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# Certificate of Deposit Calculator

 Initial deposit: Months: months Annual interest rate: % Compound: Daily Monthly Quarterly Semi-Annually Annually

## 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 It is intended that the CD be held until maturity, at which time the money may be withdrawn together with the accrued interest.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

Where:
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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