What is this calculator?
Estimate a certificate-of-deposit balance from its stated rate.
What can you use it for?
Use this tool to compare a financial scenario using the assumptions you control. Estimate a certificate-of-deposit balance from its stated rate.
How to use it
- Enter starting amount.
- Enter annual rate (%).
- Enter years.
- Enter compounding per year.
- Select Calculate (or Generate for random tools).
- Read the answer and any additional results below the form. Check the units and the limits of the method.
Formula and method
Future balance = P × (1 + annual rate ÷ 100 ÷ frequency)^(frequency × years)
Each compounding period adds interest to the balance used in the next period.
Worked example
Starting amount: 100000, Annual rate (%): 8, Years: 10, Compounding per year: 12. The result is 221,964.02345447 (future balance).
Assumptions and limits
Fixed rate. Early-withdrawal penalties, taxes and fees excluded.
Frequently asked questions
What inputs does the CD Calculator need?
Use starting amount, annual rate (%), years, compounding per year. Read the answer and any additional results below the form. Check the units and the limits of the method.
What assumptions apply to the CD Calculator?
Fixed rate. Early-withdrawal penalties, taxes and fees excluded.