Online Tools and Calculators > Financial Calculators > Certificate of Deposit Calculator

Certificate of Deposit Calculator

Initial deposit:
Months: months
Annual interest rate: %

About Certificate of Deposit Calculator

The Certificate of Deposit Calculator is used to calculate how much interest is earned on a certificate of deposit (CD).

What is Certificate of Deposit

A certificate of deposit (abbreviated as CD) is a time deposit, a financial product commonly offered to consumers in the United States by banks, thrift institutions, and credit unions. CDs are different from savings accounts in that the CD has a specific, fixed term and a fixed interest rate. It is intended that the CD be held until maturity, at which time the money may be withdrawn together with the accrued interest.

Calculating Certificate of Deposit

The following is the formula for calculating a certificate of deposit with periodic compounding:

A = P × (1 + r/n)nt

A = ending balance
P = initial deposit amount
r = annual nominal interest rate
t = number of years
n = number of compounding periods per year (for example, 12 for monthly compounding)


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