Compound Interest Calculator
CD 3-year Account from PROVIDENT with 2.41% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-year Account from PROVIDENT with 2.41% 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 $25,378. The interest earned would be $5,378 and the tax amount on the interest earned would be approximately $1,613.

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 PROVIDENT

Savings Boost of
$2,678 over 10 years
Cash Savings $20,000
Average Interest Earned $1,086

 
PROVIDENT Interest Earned $3,764

 

 

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 20,301 152 107
4 20,453 153 107
5 20,607 155 108
6 20,761 156 109
7 20,917 157 110
8 21,074 158 111
9 21,232 159 111
10 21,391 160 112
TOTAL: $1,552 $1,086

PROVIDENT Scenario

Rate:
2.41%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 482 337
2 20,482 494 346
3 20,976 506 354
4 21,481 518 362
5 21,999 530 371
6 22,529 543 380
7 23,072 556 389
8 23,628 569 399
9 24,197 583 408
10 24,781 597 418
TOTAL: $5,378 $3,764

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 20, 2023 2.41%


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