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How much interest would a $5,000 CD earn in 2 years?

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A $5,000 deposit into a 2-year CD could produce hundreds of dollars worth of interest if opened now.

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Certificate of deposit (CD) accounts are always a smart way for savers to protect and grow their money. And they’ve become a critical way to do so in recent years. With inflation at its highest level in decades and interest rates designed to combat it elevated as well, returns on CDs surged from around 1% in 2020 and 2021 to 4% to 5% right now. With the right term and deposit amount, savers could potentially earn hundreds and even thousands of dollars in interest.

But the rate climate is changing again.

Inflation has fallen significantly from the plus-9% range it was at in 2022 to just under 3% now. And the federal funds rate will soon be cut, possibly multiple times before the end of 2024. CD interest rates, then, will soon fall as well. Savers who want to lock in today’s high rates while they’re still available — and keep them for an extended period — should turn to long-term CDs, now. 

To effectively do so, they should make sure to only deposit as much as they’re comfortable parting with the full CD term or risk having to pay an early withdrawal penalty to regain their funds. They should also calculate their potential earnings before acting to make sure it’s truly worth opening now. So, how much interest would a $5,000 CD earn in a long-term, 2-year CD? That’s what we’ll calculate below.

See how much interest you could be earning with a top CD here now.

How much interest would a $5,000 CD earn in 2 years?

Rates on 2-year CDs, while not quite as high as what’s available with shorter terms, are still competitive. Depending on the lender used, savers can secure a rate of 4.50%, 4.65% or even 4.75% right now. Here’s how much interest a $5,000 CD would earn at those rates:

  • 2-year CD at 4.50%: $460.12 for a total of $5,460.12 after two years
  • 2-year CD at 4.65%: $475.81 for a total of $5,475.81 after two years
  • 2-year CD at 4.75%: $486.28 for a total of $5,486.28 after two years

While the above gains are significant, they may not be quite as high to justify parting with $5,000 for two years. If you double your deposit, however, your returns will double as well. For context, here’s how much you could earn with a $10,000 deposit instead:

  • 2-year CD at 4.50%: $920.25 for a total of $10,920.25 after two years
  • 2-year CD at 4.65%: $951.62 for a total of $10,951.62 after two years
  • 2-year CD at 4.75%: $972.56 for a total of $10,972.56 after two years

So if you want to earn hundreds of dollars with little risk, consider depositing $5,000 or $10,000 into a 2-year CD now while rates are still high.

Get started here today.

Don’t forget taxes

While CD interest rates are high and savers can earn significant amounts of money by opening an account, it won’t come tax-free. Interest earned over a specific threshold will need to be reported when filing your tax return, though you may be able to defer paying taxes on the account to a later date. You may also be able to benefit from certain tax advantages if you open a CD as part of your retirement portfolio. So contact a trusted financial advisor or accountant to determine your liability before getting started, particularly with CDs that last multiple years. 

The bottom line 

A $5,000 deposit into the right 2-year CD could produce a return between $460 and $486 right now, and if you double your deposit, you’ll double your return, too. This is a smart way to earn guaranteed interest in any economic climate, but with rate cuts on the horizon, it’s a particularly strategic way to do so right now. Just be sure to account for any tax implications so you know exactly what to expect when it comes time to file your return.

Have more questions? Learn more about your current CD options online now.



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Anna Sorokin, convicted con artist, appears on “Dancing With the Stars” wearing glittery ankle monitor

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Los Angeles — Convicted con artist Anna Sorokin has hit the dancefloor on “Dancing With the Stars” with a featherweight – and very sparkly – ankle monitor.

The so-called “fake heiress,” who was convicted of swindling banks, hotels and friends in 2019 after falsely building a reputation as a wealthy German heiress named Anna Delvey, debuted the ballroom-worthy ankle monitor during the premiere of “Dancing With the Stars'” new season Tuesday night.

“It’s actually not a big issue at all. It’s pretty light and I asked them to make it tight so it doesn’t dangle. So it’s not so bad,” she told The Associated Press after the premiere. She and dance pro Ezra Sosa performed a routine set to Sabrina Carpenter’s “Espresso.”

“It’s the real star of the show, let’s be honest here,” Sosa said of Sorokin’s bedazzled ankle monitor.

“I think it’s kind of funny how people like – it’s not like an ankle weight,” Sosa said. “It’s not like 20 pounds. It’s like literally less than a pound and it’s not a big deal.”

TV Fake Heiress Dancing With the Stars
Anna Sorokin, also known as Anna Delvey, poses at her apartment in New York in May 2023 to promote her podcast, “The Anna Delvey Show.”

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Sorokin acknowledged her debut didn’t go as planned.

“I feel relieved that it’s over,” she said. “I feel like my dance could have been a little bit better, but I’m happy I’ve done this and it was a great experience all over.”

Sorokin said she hopes viewers will be somewhat forgiving despite her criminal history.

“Hopefully people will give me, will give me a chance to show what I can do. And I served my time and I repaid my restitution,” she said.

Early reviews from fans weren’t positive, with the phrase “Anna Delvey’s Lackluster DWTS Debut” among those trending on the social media site X.

While she was released from prison in February 2021, immigration authorities picked her up shortly after she got out, claiming she overstayed her visa and must be returned to her native Germany. The “Inventing Anna” inspiration was in ICE custody for over a year before a judge cleared the way for her to switch to home confinement in October 2022 while she fights deportation.

Her release terms had to be amended to allow her to travel from New York to Los Angeles for filming.

While on home confinement, Sorokin has also gotten involved with a podcast and reality show.



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Tupperware files for bankruptcy amid slumping sales

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Tupperware and some of its subsidiaries filed for Chapter 11 bankruptcy protection, the once-iconic food container maker said in a statement late Tuesday.

The company has suffered from dwindling sales following a surprise surge during the COVID-19 pandemic, when legions of people stuck at home tried their hands at cooking, which increased demand for Tupperware’s colorful plastic containers with flexible airtight seals.

A post-pandemic rise in costs of raw materials and shipping, along with higher wages, also hurt Tupperware’s bottom line.

Last year, it warned of “substantial doubt” about its ability to keep operating in light of its poor financial position.

“Over the last several years, the Company’s financial position has been severely impacted by the challenging macroeconomic environment,” president and CEO Laurie Ann Goldman said in a statement announcing the bankruptcy filing.

“As a result, we explored numerous strategic options and determined this is the best path forward,” Goldman said.

The company said it would seek court approval for a sale process for the business to protect its brand and “further advance Tupperware’s transformation into a digital-first, technology-led company.”

The Orlando, Florida-based firm said it would also seek approval to continue operating during the bankruptcy proceedings and would continue to pay its employees and suppliers.

“We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process,” Goldman said.

The firm’s shares were trading at $0.5099 Monday, well down from $2.55 in December last year.

Tupperware said it had implemented a strategic plan to modernize its operations and drive efficiencies to ignite growth following the appointment of a new management team last year.

“The Company has made significant progress and intends to continue this important transformation work.”

In its filing with the U.S. Bankruptcy Court for the District of Delaware, Tupperware listed assets of between $500 million and $1 billion and liabilities of between $1 billion and $10 billion.

The filing also said it had between 50,000 and 100,000 creditors.

Tupperware lost popularity with consumers in recent years and an initiative to gain distribution through big-box chain Target failed to reverse its fortunes.

The company’s roots date to 1946, when chemist Earl Tupper “had a spark of inspiration while creating molds at a plastics factory shortly after the Great Depression,” according to Tupperware’s website.

“If he could design an airtight seal for plastic storage containers, like those on a paint can, he could help war-weary families save money on costly food waste.”

Over time, Tupper’s containers became popular that many people referred to any plastic food container as Tupperware. And people even threw “Tupperware parties” in their homes to sell the containers to friends and neighbors.



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