Compound Interest Calculator
CD 15-month Account from STATE DEPARTMENT with 4.58% APY and $100,000 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

STATE DEPARTMENT Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 15-month Account from STATE DEPARTMENT with 4.58% APY and $100,000 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 $31,298. The interest earned would be $11,298 and the tax amount on the interest earned would be approximately $3,389.

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 STATE DEPARTMENT

Savings Boost of
$7,590 over 10 years

Cash Savings $20,000

Average Interest Earned $318

STATE DEPARTMENT Interest Earned $7,909

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	20,090	45	32
4	20,135	45	32
5	20,181	45	32
6	20,226	46	32
7	20,272	46	32
8	20,317	46	32
9	20,363	46	32
10	20,409	46	32
	TOTAL:	$455	$318

STATE DEPARTMENT Scenario

	Rate: 4.58%	Annual Interest	Annual Interest (After Tax)
1	20,000	916	641
2	20,916	958	671
3	21,874	1,002	701
4	22,876	1,048	733
5	23,923	1,096	767
6	25,019	1,146	802
7	26,165	1,198	839
8	27,363	1,253	877
9	28,617	1,311	917
10	29,927	1,371	959
	TOTAL:	$11,298	$7,909

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
November 4, 2024	4.58%
October 30, 2024	4.73%
July 10, 2024	5.20%

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
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.
Valley Direct, a division of Valley National Bank	5.00%	$500	Learn More
Last change: ↑3.00% on August 7.
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.
Norwood Bank	4.90%	$10,000	Learn More
Last change: ↓0.15% on September 6.
Prime Alliance Bank	4.90%	$500	Learn More
Last change: ↓0.05% on September 27.

Compound Interest Calculator CD 15-month Account from STATE DEPARTMENT with 4.58% APY and $100,000 minimum deposit