Compound Interest Calculator
CD 3-year Account from The Gary State Bank with 1.30% APY and $100,000 minimum deposit

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The Gary State Bank Rate (%):

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The product CD 3-year Account from The Gary State Bank with 1.30% 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 $22,757. The interest earned would be $2,757 and the tax amount on the interest earned would be approximately $827.

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

Our records indicate that this institution has been acquired by Ultima Bank Minnesota.

The Results for The Gary State Bank

Savings Boost of
$843 over 10 years

Cash Savings $20,000

Average Interest Earned $1,088

The Gary State Bank Interest Earned $1,930

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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: 0.75%	Annual Interest	Annual Interest (After Tax)
1	20,000	150	105
2	20,150	151	106
3	20,302	152	107
4	20,454	154	108
5	20,608	155	108
6	20,762	156	109
7	20,918	157	110
8	21,075	158	111
9	21,234	159	112
10	21,393	161	112
	TOTAL:	$1,554	$1,088

The Gary State Bank Scenario

	Rate: 1.30%	Annual Interest	Annual Interest (After Tax)
1	20,000	260	182
2	20,260	263	184
3	20,523	267	187
4	20,790	270	189
5	21,060	274	192
6	21,334	277	194
7	21,612	281	197
8	21,893	285	199
9	22,177	288	202
10	22,465	292	204
	TOTAL:	$2,757	$1,930

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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.

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Compound Interest Calculator CD 3-year Account from The Gary State Bank with 1.30% APY and $100,000 minimum deposit