Compound Interest Calculator
CD 4-year Account from MINNEQUA WORKS with 3.50% APY and $50,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 4-year Account from MINNEQUA WORKS with 3.50% APY and $50,000 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 $28,198. The interest earned would be $8,198 and the tax amount on the interest earned would be approximately $2,460.

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
$4,555 over 10 years
Cash Savings $20,000
Average Interest Earned $1,184

 
MINNEQUA WORKS Interest Earned $5,739

 

 

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:
0.82%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 163 114
2 20,163 164 115
3 20,327 166 116
4 20,493 167 117
5 20,660 168 118
6 20,828 170 119
7 20,998 171 120
8 21,169 173 121
9 21,342 174 122
10 21,516 175 123
TOTAL: $1,691 $1,184

MINNEQUA WORKS Scenario

Rate:
3.50%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 699 489
2 20,699 723 506
3 21,422 749 524
4 22,171 775 542
5 22,946 802 561
6 23,748 830 581
7 24,578 859 601
8 25,437 889 622
9 26,326 920 644
10 27,246 952 667
TOTAL: $8,198 $5,739

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 3.50%
August 7, 2024 3.55%
April 15, 2024 3.60%
February 23, 2024 3.65%
December 12, 2023 3.60%
November 7, 2023 4.06%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.15% on March 22.

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Last change: ↓0.50% on February 25.