Compound Interest Calculator
REDWOOD with 3.00% APY and $25,000 minimum deposit

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The product REDWOOD with 3.00% APY and $25,000 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 $26,878. The interest earned would be $6,878 and the tax amount on the interest earned would be approximately $2,063.

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 REDWOOD

Savings Boost of
$4,495 over 10 years

Cash Savings $20,000

Average Interest Earned $320

REDWOOD Interest Earned $4,815

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: 0.23%	Annual Interest	Annual Interest (After Tax)
1	20,000	45	32
2	20,045	45	32
3	20,091	45	32
4	20,136	46	32
5	20,181	46	32
6	20,227	46	32
7	20,273	46	32
8	20,319	46	32
9	20,364	46	32
10	20,410	46	32
	TOTAL:	$457	$320

REDWOOD Scenario

	Rate: 3.00%	Annual Interest	Annual Interest (After Tax)
1	20,000	600	420
2	20,600	618	433
3	21,218	637	446
4	21,855	656	459
5	22,510	675	473
6	23,185	696	487
7	23,881	716	502
8	24,597	738	517
9	25,335	760	532
10	26,095	783	548
	TOTAL:	$6,878	$4,815

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.

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My e-Banc, a division of Bradesco BAC Florida Bank	5.00%	$50,000	Learn More
Last change: ↑0.25% on October 28. 6 Month Jumbo CD.
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My e-Banc, a division of Bradesco BAC Florida Bank	4.80%	$50,000	Learn More
Last change: ↑0.20% on October 28. Early Withdrawal Penalty is 3 months interest.

Compound Interest Calculator REDWOOD with 3.00% APY and $25,000 minimum deposit