Compound Interest Calculator
CD 1-year Account from MCCOY with 1.92% APY and $100,000 minimum deposit

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The product CD 1-year Account from MCCOY with 1.92% APY and $100,000 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 $24,182. The interest earned would be $4,182 and the tax amount on the interest earned would be approximately $1,255.

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
$2,137 over 10 years

Cash Savings $20,000

Average Interest Earned $791

MCCOY Interest Earned $2,928

Compare

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: 0.55%	Annual Interest	Annual Interest (After Tax)
1	20,000	110	77
2	20,110	111	78
3	20,221	111	78
4	20,332	112	78
5	20,444	113	79
6	20,557	113	79
7	20,670	114	80
8	20,784	115	80
9	20,899	115	81
10	21,014	116	81
	TOTAL:	$1,130	$791

MCCOY Scenario

	Rate: 1.92%	Annual Interest	Annual Interest (After Tax)
1	20,000	383	268
2	20,383	391	274
3	20,774	398	279
4	21,172	406	284
5	21,578	414	290
6	21,992	422	295
7	22,414	430	301
8	22,843	438	307
9	23,281	446	312
10	23,727	455	318
	TOTAL:	$4,182	$2,928

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.

Recent Rate Changes

Date	APY
September 29, 2023	1.92%

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Compound Interest Calculator CD 1-year Account from MCCOY with 1.92% APY and $100,000 minimum deposit