Compound Interest Calculator
CD 4-year Account from Somerset Trust Company with 1.15% APY and $10,000 minimum deposit

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The product CD 4-year Account from Somerset Trust Company with 1.15% 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 $22,423. The interest earned would be $2,423 and the tax amount on the interest earned would be approximately $727.

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

The Results for Somerset Trust Company

Savings Boost of
$515 over 10 years

Cash Savings $20,000

Average Interest Earned $1,181

Somerset Trust Company Interest Earned $1,696

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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: 0.81%	Annual Interest	Annual Interest (After Tax)
1	20,000	163	114
2	20,163	164	115
3	20,327	165	116
4	20,492	167	117
5	20,658	168	118
6	20,826	169	119
7	20,996	171	119
8	21,166	172	120
9	21,338	173	121
10	21,512	175	122
	TOTAL:	$1,687	$1,181

Somerset Trust Company Scenario

	Rate: 1.15%	Annual Interest	Annual Interest (After Tax)
1	20,000	230	161
2	20,230	233	163
3	20,463	235	165
4	20,698	238	167
5	20,936	241	169
6	21,177	244	170
7	21,420	246	172
8	21,667	249	174
9	21,916	252	176
10	22,168	255	178
	TOTAL:	$2,423	$1,696

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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.

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Compound Interest Calculator CD 4-year Account from Somerset Trust Company with 1.15% APY and $10,000 minimum deposit