Compound Interest Calculator
CD 2-year Account from Legacy Bank with 0.51% APY and $500 minimum deposit

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The product CD 2-year Account from Legacy Bank with 0.51% APY and $500 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $21,046. The interest earned would be $1,046 and the tax amount on the interest earned would be approximately $314.

Please note that this product is available in Virginia and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Legacy Bank

Savings Boost of
$-215 over 10 years

Cash Savings $20,000

Average Interest Earned $947

Legacy Bank Interest Earned $732

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See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

	Rate: 0.66%	Annual Interest	Annual Interest (After Tax)
1	20,000	131	92
2	20,131	132	93
3	20,264	133	93
4	20,397	134	94
5	20,531	135	94
6	20,666	136	95
7	20,801	137	96
8	20,938	138	96
9	21,076	138	97
10	21,214	139	98
	TOTAL:	$1,354	$947

Legacy Bank Scenario

	Rate: 0.51%	Annual Interest	Annual Interest (After Tax)
1	20,000	102	72
2	20,102	103	72
3	20,205	103	72
4	20,308	104	73
5	20,412	104	73
6	20,516	105	73
7	20,621	105	74
8	20,726	106	74
9	20,832	106	75
10	20,939	107	75
	TOTAL:	$1,046	$732

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.

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Compound Interest Calculator CD 2-year Account from Legacy Bank with 0.51% APY and $500 minimum deposit