Compound Interest Calculator
CD 5-year Account from The Bank of Princeton with 0.50% APY and $500 minimum deposit

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The product CD 5-year Account from The Bank of Princeton with 0.50% APY and $500 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 $21,023. The interest earned would be $1,023 and the tax amount on the interest earned would be approximately $307.

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

The Results for The Bank of Princeton

Savings Boost of
$-619 over 10 years

Cash Savings $20,000

Average Interest Earned $1,335

The Bank of Princeton Interest Earned $716

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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: 0.92%	Annual Interest	Annual Interest (After Tax)
1	20,000	183	128
2	20,183	185	129
3	20,368	186	130
4	20,554	188	132
5	20,742	190	133
6	20,932	192	134
7	21,123	193	135
8	21,317	195	137
9	21,512	197	138
10	21,709	199	139
	TOTAL:	$1,907	$1,335

The Bank of Princeton Scenario

	Rate: 0.50%	Annual Interest	Annual Interest (After Tax)
1	20,000	100	70
2	20,100	101	70
3	20,201	101	71
4	20,302	102	71
5	20,403	102	71
6	20,505	103	72
7	20,608	103	72
8	20,711	104	72
9	20,814	104	73
10	20,918	105	73
	TOTAL:	$1,023	$716

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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.

Recent Rate Changes

Date	APY
August 20, 2023	0.50%

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Customer Reviews for The Bank of Princeton

Donna

November 1, 2022 |

This local community bank “by far” exceeded my expectations of what a banking institution should be. They take the time to understand their customers needs, educatedly answer questions, and take the time to follow up when needed. With an unsettling employee turnover and many larger branch closings, those tasks can easily fall short of the mark. Consider this...community bank management and board members ARE part of the community, not just sitting in lofty towers somewhere.

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Compound Interest Calculator CD 5-year Account from The Bank of Princeton with 0.50% APY and $500 minimum deposit