Overview
Have you ever wondered how much money you could make by depositing your savings into a Certificate of Deposit (CD)? 💰 Well, you’re in the right place! Our Certificate of Deposit Calculator allows you to estimate your earnings based on your inputs, including the initial deposit, interest rate, term length, and compounding frequency!
How to Use
Using our calculator is as easy as pie 🥧! Simply follow these steps:
- Enter your Initial Deposit – this is how much money you plan to invest.
- Input the Annual Interest Rate – check with your bank for current rates!
- Select the Term Length – how long will you keep your money in the CD?
- Choose your Compounding Frequency – will your interest be compounded annually, semi-annually, quarterly, or monthly?
After clicking the Calculate button, you will see a detailed table breaking down the growth of your investment over the chosen term. Each row reveals your total balance and interest earned for every year of your investment.
The earlier you start saving, the more time your money has to grow! ⏳
