Certificate of Deposit (CD) Calculator
Forecast Certificate of Deposit earnings at maturity based on deposit, APY, term, and compounding frequency. Compare CD offers side by side.
Reviewed by Sahil, Senior Finance & Tax Editor · Editorial policy
Certificate of Deposit (CD) Calculator Formula
Maturity Value = P × (1 + r/n)^(n × t)
Where Maturity Value = total amount at the end of the CD term, P = Principal (initial deposit), r = Annual interest rate (as a decimal), n = Number of compounding periods per year (daily=365, monthly=12, quarterly=4, annually=1), t = Time in years (term months / 12). Interest earned is the maturity value minus the initial deposit. Effective APY = (1 + r/n)^n - 1.
Certificate of Deposit (CD) Calculator — Worked Examples
Example 1: 12-Month CD with Monthly Compounding
Problem:You deposit $10,000 in a 12-month CD with a 5.00% APY and monthly compounding. How much will you earn?
Solution:Deposit: $10,000\nAPY: 5.00%\nTerm: 12 months\nCompounding: Monthly\n\nMaturity value: $10,000 x (1 + 0.05/12)^(12 x 1) = $10,000 x 1.05116 = $10,511.62\nInterest earned: $10,511.62 - $10,000 = $511.62\nEffective APY: 5.116%\nAverage monthly interest: $511.62 / 12 = $42.64
Result:Maturity Value: $10,511.62 | Interest Earned: $511.62 | Monthly Interest: $42.64
Example 2: 5-Year CD for Savings Goal
Problem:You deposit $25,000 in a 60-month (5-year) CD at 4.50% APY with daily compounding. What is the maturity value?
Solution:Deposit: $25,000\nAPY: 4.50%\nTerm: 60 months (5 years)\nCompounding: Daily\n\nMaturity value: $25,000 x (1 + 0.045/365)^(365 x 5) = $25,000 x 1.25232 = $31,308.07\nInterest earned: $31,308.07 - $25,000 = $6,308.07\nEffective APY: 4.603%\nTotal return: 25.23%\nAverage monthly interest: $6,308.07 / 60 = $105.13
Result:Maturity Value: $31,308.07 | Interest Earned: $6,308.07 | Total Return: 25.23%