If you invest $20,000 after 10 years years how much money will you have in a high interest rate cd account?

Question

If you invest $20,000 after 10 years years how much money will you have in a high interest rate cd account?

Answer 1

It is difficult to say.  There are too many unknowns to even hazard a guess.  Among the unknowns are future tax rates, future cd rates, future inflation rates, and even whether the bank will be in business in the future.

Answer 2

not that much.

use this formula Principle*(1+interest%)^10

Answer 3

There is no high rate CD today.  However, there are many good websites at which you can put in the term, the amount and the interest rate and find out the amount to which it would grow.  Estimating approximately 3.6% per year, you would have about $28651 at the end of ten years.  The web site I used is http://www.moneychimp.com/calculator/com...