Compound Interest Calculator
CD 2-year Account from MIDFLORIDA with 2.15% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 2-year Account from MIDFLORIDA with 2.15% APY and $1,000 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 $24,741. The interest earned would be $4,741 and the tax amount on the interest earned would be approximately $1,422.

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 MIDFLORIDA

Savings Boost of
$2,371 over 10 years
Cash Savings $20,000
Average Interest Earned $947

 
MIDFLORIDA Interest Earned $3,319

 

 

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

MIDFLORIDA Scenario

Rate:
2.15%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 430 301
2 20,430 439 307
3 20,869 449 314
4 21,318 458 321
5 21,776 468 328
6 22,244 478 335
7 22,723 489 342
8 23,211 499 349
9 23,710 510 357
10 24,220 521 365
TOTAL: $4,741 $3,319

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 6, 2024 2.15%
November 3, 2023 2.25%
September 5, 2023 2.00%
August 19, 2023 1.75%


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Customer Reviews for Midflorida (2)


  • February 4, 2020 | Replies 1

    CDs 60 Month Rates

    This is false advertising. The actual apy is 2.5º\º

    Carson76 | Feb 15, 2020

    Nice to see they corrected the 3º/º to 2.50º/º


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