CD Calculator helps you calculate interest on Certificates of Deposit. Enter initial deposit, term length, interest rate, and compounding frequency to see total earnings and final balance.
Features
CD Calculator
Calculates the future value of a Certificate of Deposit (CD) given the initial deposit, term length, interest rate, and compounding frequency. It shows the total earned interest and total balance at the end of the term.
Accumulation Schedule
Displays the year-by-year breakdown of the CD's balance, interest earned per period, and cumulative interest to help visualize the accumulation of interest over time.
Explanatory Content
Provides detailed explanations on CDs, the benefits of using a CD calculator, and terms related to CDs to help users understand the financial product and how the calculator estimates earnings.
CD Term Length Options
Allows users to compare potential earnings on a $5,000 CD across different term lengths such as 3 months, 6 months, 1 year, 3 years, and 5 years.
Interest Rate and APY Display
Provides current interest rates and their corresponding annual percentage yields (APY) for each CD term length.
Compounding Frequency Details
Explains how compounding frequency (e.g., monthly, annually) affects potential earnings.