Compound Interest Calculator
CD 5-year Account from The Watkins Savings Bank with 1.20% APY and $10,000 minimum deposit

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The product CD 5-year Account from The Watkins Savings Bank with 1.20% APY and $10,000 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 $22,534. The interest earned would be $2,534 and the tax amount on the interest earned would be approximately $760.

Please note that this product is available in Iowa 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 Watkins Savings Bank

Savings Boost of
$440 over 10 years

Cash Savings $20,000

Average Interest Earned $1,334

The Watkins Savings Bank Interest Earned $1,774

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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: 0.91%	Annual Interest	Annual Interest (After Tax)
1	20,000	183	128
2	20,183	184	129
3	20,367	186	130
4	20,553	188	132
5	20,741	190	133
6	20,931	191	134
7	21,122	193	135
8	21,315	195	136
9	21,510	197	138
10	21,707	198	139
	TOTAL:	$1,905	$1,334

The Watkins Savings Bank Scenario

	Rate: 1.20%	Annual Interest	Annual Interest (After Tax)
1	20,000	240	168
2	20,240	243	170
3	20,483	246	172
4	20,729	249	174
5	20,977	252	176
6	21,229	255	178
7	21,484	258	180
8	21,742	261	183
9	22,003	264	185
10	22,267	267	187
	TOTAL:	$2,534	$1,774

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.

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Compound Interest Calculator CD 5-year Account from The Watkins Savings Bank with 1.20% APY and $10,000 minimum deposit