Compound Interest Calculator
CD 4-year Account from MINNEQUA WORKS with 3.44% APY and $2,500 minimum deposit

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The product CD 4-year Account from MINNEQUA WORKS with 3.44% APY and $2,500 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 $28,060. The interest earned would be $8,060 and the tax amount on the interest earned would be approximately $2,418.

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 MINNEQUA WORKS

Savings Boost of
$4,460 over 10 years

Cash Savings $20,000

Average Interest Earned $1,182

MINNEQUA WORKS Interest Earned $5,642

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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: 0.81%	Annual Interest	Annual Interest (After Tax)
1	20,000	163	114
2	20,163	164	115
3	20,327	165	116
4	20,492	167	117
5	20,659	168	118
6	20,827	170	119
7	20,997	171	120
8	21,168	172	121
9	21,340	174	122
10	21,514	175	123
	TOTAL:	$1,689	$1,182

MINNEQUA WORKS Scenario

	Rate: 3.44%	Annual Interest	Annual Interest (After Tax)
1	20,000	689	482
2	20,689	713	499
3	21,401	737	516
4	22,138	762	534
5	22,901	789	552
6	23,690	816	571
7	24,505	844	591
8	25,349	873	611
9	26,222	903	632
10	27,125	934	654
	TOTAL:	$8,060	$5,642

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
August 31, 2024	3.44%
August 7, 2024	3.50%
April 15, 2024	3.55%
February 23, 2024	3.60%
December 12, 2023	3.50%
November 7, 2023	3.96%

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Last change: ↓0.85% on August 7, 2024. Early Withdrawal Penalty is 6 months interest.

Compound Interest Calculator CD 4-year Account from MINNEQUA WORKS with 3.44% APY and $2,500 minimum deposit