This calculator is designed to help determine the potential interest growth on your Certificate of Deposit. This tool will also work for other investments with distributed interest payments.
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The certificate of deposite tool can be purchased and downloaded in Microsoft Excel for only $6. Please follow the link below to download this tool. Following your payment, you will be redirected to the download page.
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Free Certificate of Deposit (CD) Calculator
According to investopedia.com, "A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate and can be issued in any denomination. CDs are generally issued by commercial banks and are insured by the FDIC. The term of a CD generally ranges from one month to five years."
1. Initial Balance of Certificate of Deposit (CD) - Input the amount of deposit you will purchase
2. Length of CD in Months - Input the life of the CD
3. Annual Interest Rate (%) - Input the interest rate for the CD
4. Interest Compounding Frequency (Times per Year) - Input how many payments a year you will receive. 12 is monthly, 4 is quarterly, 1 is yearly.