Bank CD Calculator: Certificate of Deposit and Savings Calculator
Certificate of Deposit (Bank CD) Calculator
Certificate of Deposit (bank CD):
Use this CD calculator to find out how much interest you can earn on a Certificate of Deposit (Bank CDs). Just enter a few pieces of information and we will calculate your Annual Percentage Yield (APY) (CD rate) and ending Certificate of Deposit (Bank CDs) balance. Click on the "View Report" button to see a detailed schedule of your Certificate of Deposit (Bank CDs) balance and interest earned
.Certificate of Deposit (Bank CD) - Definitions
Initial deposit - The starting balance for your Certificate of Deposit (Bank CDs).
Months - The total number of months for this Certificate of Deposit (Bank CDs) to mature.
Interest rate - The published interest rate (CD rates) for this Certificate of Deposit (Bank CDs). Make sure to enter the actual interest rate (CD rate) on your Certificate of Deposit (Bank CDs), not the Annual Percentage Yield (APY).
Annual percentage yield (APY) - This is the effective annual interest rate earned for this Certificate of Deposit (Bank CDs). A Certificate of Deposit (Bank CDs) APY depends on the frequency of compounding and the interest rate (CD rates). Since APY measures your actual interest earned per year, you can use it to compare Certificate of Deposits (Bank CDs) of different interest rates and compounding frequencies.
Compounding - Interest earned on your Certificate of Deposit's (Bank CDs) accumulated interest. This CD calculator allows you to choose the frequency that your
Certificate of Deposit's (Bank CDs)
interest 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 Certificate of Deposit.