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.
