Compound Interest Calculator
CD 3-year Account from Prospect Bank with 0.42% APY and $10,000 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

Prospect Bank Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 3-year Account from Prospect Bank with 0.42% APY and $10,000 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 $20,856. The interest earned would be $856 and the tax amount on the interest earned would be approximately $257.

Please note that this product is available in Illinois and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Prospect Bank

Savings Boost of
$-488 over 10 years

Cash Savings $20,000

Average Interest Earned $1,088

Prospect Bank Interest Earned $599

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

Prospect Bank Scenario

	Rate: 0.42%	Annual Interest	Annual Interest (After Tax)
1	20,000	84	59
2	20,084	84	59
3	20,168	85	59
4	20,253	85	60
5	20,338	85	60
6	20,424	86	60
7	20,509	86	60
8	20,595	87	61
9	20,682	87	61
10	20,769	87	61
	TOTAL:	$856	$599

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.

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
TotalDirect, a division of City National Bank of Florida	4.91%	$25,000	Learn More
Last change: ↓0.09% on October 17. 3 Month CD.
OneLocal Bank	4.90%	$10,000	Learn More
Last change: ↓0.15% on September 6.
My e-Banc, a division of Bradesco BAC Florida Bank	4.80%	$50,000	Learn More
Last change: ↓0.09% on December 7. 6 Month Jumbo CD.
Finworth, a division of InsBank	4.75%	$50,000	Learn More
Last change: ↑0.25% on November 25.
Rising Bank, a division of Midwest BankCentre	4.70%	$1,000	Learn More
Last change: ↑0.70% on December 7.

Compound Interest Calculator CD 3-year Account from Prospect Bank with 0.42% APY and $10,000 minimum deposit