Oct 24, 2018 0 Comments

Certificate of Deposit Calculator is a quick way to calculate how much interest is earned on a Certificate of Deposit (CD)

- APY:

The Annual Percentage Yield (APY)`..`

- Total Interest Earned:
`..`

- Ending Balance:
`..`

Background Information

- What does Certificate of Deposit (CD) mean?
- Certificate of Deposit (CD) refers to a certificate issued by a bank to a person depositing money done for a specific length of time at a particular rate of interest.

- Importance of Certificate of Deposit (CD)
- Certificate of Deposit makes savings grow. On investing in a CD reward is for keeping the cash in the account for the length of the CD term.

- Formula
A(t) = A(0) (1 + r / n) ^

^{nt}Where:-

- A(t) = Amount function
- A(0) = Principal amount (Initial Investment)
- t = Total time in years
- n = Number of compounding periods per year
- r = Nominal annual interest rate
- ⌊nt⌋ means that nt is rounded down to the nearest integer.

- May 16, 2018
- Tool Launched

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