Compound Interest Calculator
CD 4-year Account from SUMA with 4.13% APY and $1,000 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

SUMA Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 4-year Account from SUMA with 4.13% 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 $29,977. The interest earned would be $9,977 and the tax amount on the interest earned would be approximately $2,993.

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 SUMA

Savings Boost of
$5,803 over 10 years

Cash Savings $20,000

Average Interest Earned $1,181

SUMA Interest Earned $6,984

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: 0.81%	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

SUMA Scenario

	Rate: 4.13%	Annual Interest	Annual Interest (After Tax)
1	20,000	826	578
2	20,826	860	602
3	21,686	896	627
4	22,582	933	653
5	23,514	971	680
6	24,486	1,011	708
7	25,497	1,053	737
8	26,550	1,097	768
9	27,646	1,142	799
10	28,788	1,189	832
	TOTAL:	$9,977	$6,984

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	4.13%

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
TotalDirect, a division of City National Bank of Florida	5.51%	$25,000	Learn More
Last change: ↓0.15% on May 13. 3 Month CD.
Climate First Bank	5.34%	$500	Learn More
My e-Banc, a division of Bradesco BAC Florida Bank	5.30%	$50,000	Learn More
Last change: ↑0.25% on August 7. 6 Month Jumbo CD.
ableBanking, a division of Northeast Bank	5.20%	$500	Learn More
Last change: ↓0.10% on August 16.
LendingClub Bank, National Association	5.20%	$2,500	Learn More
Last change: ↑5.10% on August 12.

Compound Interest Calculator CD 4-year Account from SUMA with 4.13% APY and $1,000 minimum deposit