Compound Interest Calculator
CD 1-year Account from WESTEX with 0.98% APY and $100,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from WESTEX with 0.98% 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 $22,057. The interest earned would be $2,057 and the tax amount on the interest earned would be approximately $617.

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

The Results for WESTEX

Savings Boost of
$648 over 10 years
Cash Savings $20,000
Average Interest Earned $792

 
WESTEX Interest Earned $1,440

 

 

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:
0.55%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 110 77
2 20,110 111 78
3 20,221 112 78
4 20,333 112 79
5 20,445 113 79
6 20,558 113 79
7 20,672 114 80
8 20,786 115 80
9 20,900 115 81
10 21,016 116 81
TOTAL: $1,132 $792

WESTEX Scenario

Rate:
0.98%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 197 138
2 20,197 199 139
3 20,396 201 140
4 20,596 203 142
5 20,799 205 143
6 21,004 207 145
7 21,210 209 146
8 21,419 211 148
9 21,630 213 149
10 21,843 215 150
TOTAL: $2,057 $1,440

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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