Compound Interest Calculator
CD 6-month Account from MCCOY with 1.71% APY and $25,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 6-month Account from MCCOY with 1.71% APY and $25,000 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 $23,703. The interest earned would be $3,703 and the tax amount on the interest earned would be approximately $1,111.

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

The Results for MCCOY

Savings Boost of
$2,272 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
MCCOY Interest Earned $2,592

 

 

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:
0.23%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 45 32
2 20,045 45 32
3 20,091 45 32
4 20,136 46 32
5 20,181 46 32
6 20,227 46 32
7 20,273 46 32
8 20,319 46 32
9 20,364 46 32
10 20,410 46 32
TOTAL: $457 $320

MCCOY Scenario

Rate:
1.71%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 343 240
2 20,343 348 244
3 20,691 354 248
4 21,046 361 252
5 21,406 367 257
6 21,773 373 261
7 22,146 379 266
8 22,525 386 270
9 22,911 392 275
10 23,303 399 279
TOTAL: $3,703 $2,592

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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