Compound Interest Calculator
CD 3-year Account from The Lowell Five Cent Savings Bank with 2.30% APY and $500 minimum deposit

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The product CD 3-year Account from The Lowell Five Cent Savings Bank with 2.30% 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 $25,107. The interest earned would be $5,107 and the tax amount on the interest earned would be approximately $1,532.

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 Lowell Five Cent Savings Bank

Savings Boost of
$2,488 over 10 years

Cash Savings $20,000

Average Interest Earned $1,086

The Lowell Five Cent Savings Bank Interest Earned $3,575

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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	20,301	152	107
4	20,453	153	107
5	20,607	155	108
6	20,761	156	109
7	20,917	157	110
8	21,074	158	111
9	21,232	159	111
10	21,391	160	112
	TOTAL:	$1,552	$1,086

The Lowell Five Cent Savings Bank Scenario

	Rate: 2.30%	Annual Interest	Annual Interest (After Tax)
1	20,000	460	322
2	20,460	471	329
3	20,931	481	337
4	21,412	492	345
5	21,904	504	353
6	22,408	515	361
7	22,924	527	369
8	23,451	539	378
9	23,990	552	386
10	24,542	564	395
	TOTAL:	$5,107	$3,575

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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
July 29, 2024	2.30%
December 18, 2023	2.25%
December 18, 2023	1.00%

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Compound Interest Calculator CD 3-year Account from The Lowell Five Cent Savings Bank with 2.30% APY and $500 minimum deposit