With the default inputs (Deposit Amount $10,000; Annual APY 4.75%; CD Term 1 year; Compounding Daily), this calculator returns Value at Maturity $10,475.00, Total Interest Earned $475.00 and Initial Deposit $10,000.00.
Every row is computed with this page's own calculator. Change the inputs above to model your own numbers.
| APY | Value at Maturity | Total Interest Earned |
|---|---|---|
| 3% | $10,300.00 | $300.00 |
| 3.5% | $10,350.00 | $350.00 |
| 4% | $10,400.00 | $400.00 |
| 4.5% | $10,450.00 | $450.00 |
| 4.75% | $10,475.00 | $475.00 |
| 5% | $10,500.00 | $500.00 |
| 5.5% | $10,550.00 | $550.00 |
Using the CD calculator is straightforward. Follow these steps:
Once you have filled in these details, click on the calculate button to see your results!
The formula used to calculate the future value of a Certificate of Deposit is:
Where:
Let’s say you want to invest $5,000 in a CD with an annual APY of 2.5% for a term of 3 years, compounded monthly. Here’s how you would calculate it:
Using the formula:
FV = 5000 * (1 + 0.025/12)^(12*3) = $5,000 * (1 + 0.0020833)^(36) ≈ $5,000 * 1.077 = $5,385.23
The total interest earned would be approximately $385.23, making your value at maturity around $5,385.23.
While using a CD calculator can provide valuable insights, keep in mind the following: