Compound Interest Calculator
CD 3-year Account from SPECTRUM with 4.00% APY and $50,000 minimum deposit

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The product CD 3-year Account from SPECTRUM with 4.00% APY and $50,000 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 $29,605. The interest earned would be $9,605 and the tax amount on the interest earned would be approximately $2,881.

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 SPECTRUM

Savings Boost of
$5,637 over 10 years

Cash Savings $20,000

Average Interest Earned $1,086

SPECTRUM Interest Earned $6,723

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	20,301	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

SPECTRUM Scenario

	Rate: 4.00%	Annual Interest	Annual Interest (After Tax)
1	20,000	800	560
2	20,800	832	582
3	21,632	865	606
4	22,497	900	630
5	23,397	936	655
6	24,333	973	681
7	25,306	1,012	709
8	26,319	1,053	737
9	27,371	1,095	766
10	28,466	1,139	797
	TOTAL:	$9,605	$6,723

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
February 20, 2024	4.00%
August 19, 2023	4.10%

Featured CD Rates

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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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OneLocal Bank	4.90%	$10,000	Learn More
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Compound Interest Calculator CD 3-year Account from SPECTRUM with 4.00% APY and $50,000 minimum deposit