Compound Interest Calculator
CD 7-month Account from The Camden National Bank with 2.95% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 7-month Account from The Camden National Bank with 2.95% 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 $26,748. The interest earned would be $6,748 and the tax amount on the interest earned would be approximately $2,024.

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 The Camden National Bank

Savings Boost of
$4,404 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
The Camden National Bank Interest Earned $4,724

 

 

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 20,091 45 32
4 20,136 46 32
5 20,181 46 32
6 20,227 46 32
7 20,273 46 32
8 20,319 46 32
9 20,364 46 32
10 20,410 46 32
TOTAL: $457 $320

The Camden National Bank Scenario

Rate:
2.95%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 590 413
2 20,590 607 425
3 21,197 625 438
4 21,823 644 451
5 22,466 663 464
6 23,129 682 478
7 23,812 702 492
8 24,514 723 506
9 25,237 744 521
10 25,982 766 537
TOTAL: $6,748 $4,724

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
December 23, 2024 2.95%
December 2, 2024 3.20%
October 14, 2024 3.44%
April 23, 2024 4.75%
March 19, 2024 4.90%
March 6, 2024 5.00%
February 2, 2024 5.13%
February 2, 2024 1.00%


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