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Certificate of Deposit
Calculator
Use this calculator to find
out how much interest you can earn on a Certificate
of Deposit (CD). Just enter a few pieces of information
and we will calculate your Annual Percentage Yield (APY)
and ending balance. Click on the "View Report" button
to see a detailed schedule of your CD's balance and
interest earned.
Initial deposit
The starting
balance for your CD.
Months
The total number of months
for this CD to mature.
Interest rate
The published interest
rate for this CD. Make sure to enter the actual
interest rate, not the Annual Percentage Yield
(APY).
Annual percentage
yield (APY) This
is the effective annual interest rate earned for
this CD. A CD's APY depends on the frequency of
compounding and the interest rate. Since APY measures
your actual interest earned per year, you can
use it to compare CD's of different interest rates
and compounding frequencies.
Compounding
Interest earned
on your CD's accumulated interest. This calculator
allows you to choose the frequency that your CD's
interest income is added to your account. The
more frequently this occurs, the sooner your accumulated
interest income will generate additional interest.
You may wish to check with your financial institution
to find out how often interest is being compounded
on your particular CD. |
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Equal Housing Lender