Compound Interest Calculator
CD 3-year Account from PEN AIR with 2.70% APY and $500 minimum deposit

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The product CD 3-year Account from PEN AIR with 2.70% APY and $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 $26,106. The interest earned would be $6,106 and the tax amount on the interest earned would be approximately $1,832.

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 PEN AIR

Savings Boost of
$3,186 over 10 years

Cash Savings $20,000

Average Interest Earned $1,088

PEN AIR Interest Earned $4,274

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: 0.75%	Annual Interest	Annual Interest (After Tax)
1	20,000	150	105
2	20,150	151	106
3	20,302	152	107
4	20,454	154	108
5	20,608	155	108
6	20,762	156	109
7	20,918	157	110
8	21,075	158	111
9	21,234	159	112
10	21,393	161	112
	TOTAL:	$1,554	$1,088

PEN AIR Scenario

	Rate: 2.70%	Annual Interest	Annual Interest (After Tax)
1	20,000	540	378
2	20,540	555	388
3	21,095	570	399
4	21,664	585	409
5	22,249	601	421
6	22,850	617	432
7	23,467	634	444
8	24,100	651	455
9	24,751	668	468
10	25,419	686	480
	TOTAL:	$6,106	$4,274

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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 13, 2024	2.70%
August 31, 2024	2.65%
August 2, 2024	2.85%
April 24, 2024	2.95%
March 5, 2024	2.90%
August 20, 2023	2.70%

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Compound Interest Calculator CD 3-year Account from PEN AIR with 2.70% APY and $500 minimum deposit