{
  "id": "cd",
  "version": "cc8663ef3728",
  "status": "published",
  "name": "CD Calculator",
  "question": "How much will my CD earn?",
  "summary": "Computes what a certificate of deposit is worth at maturity from the deposit, the APY, and the term, or solves for any one of them.",
  "category": "finance",
  "subcategory": "investing",
  "url": "https://www.acalculator.org/finance/cd-calculator",
  "markdown": "https://www.acalculator.org/finance/cd-calculator.md",
  "kind": "formulas",
  "method": "B = D × (1 + APY)^t, where t is the term in years (months ÷ 12).",
  "assumptions": [
    "The APY already includes compounding, so the balance grows by the factor (1 + APY) each year and (1 + APY)^t over t years, including part years.",
    "A term in months is months ÷ 12 years.",
    "Interest stays in the CD until maturity. No money is added or withdrawn, and there is no early-withdrawal penalty or tax."
  ],
  "inputs": {
    "$schema": "https://json-schema.org/draft/2020-12/schema",
    "type": "object",
    "properties": {
      "deposit": {
        "title": "Initial deposit",
        "description": "The amount put into the CD when it opens.",
        "type": "number",
        "x-unit": "USD",
        "exclusiveMinimum": 0,
        "maximum": 1000000000
      },
      "termLength": {
        "title": "CD term",
        "description": "How long the money stays in the CD, in months or years (see the unit).",
        "type": "number",
        "exclusiveMinimum": 0,
        "maximum": 1200
      },
      "interestRate": {
        "title": "APY",
        "description": "The annual percentage yield: the yearly return with compounding included.",
        "type": "number",
        "x-unit": "percent",
        "minimum": 0,
        "maximum": 100
      },
      "balance": {
        "title": "Balance at maturity",
        "description": "The deposit plus all interest at the end of the term.",
        "type": "number",
        "x-unit": "USD",
        "exclusiveMinimum": 0,
        "maximum": 1000000000000
      },
      "termUnit": {
        "title": "Term in",
        "description": "Whether the term is in months or in years.",
        "type": "string",
        "enum": [
          "months",
          "years"
        ]
      }
    }
  },
  "solve": {
    "fillAny": 3,
    "variables": [
      "deposit",
      "termLength",
      "interestRate",
      "balance"
    ],
    "inputsOnly": []
  },
  "outputs": {
    "deposit": {
      "label": "Initial deposit",
      "description": "The amount put into the CD when it opens.",
      "format": "money"
    },
    "term": {
      "label": "CD term",
      "description": "How long the money stays in the CD, in the unit chosen under “Term in”.",
      "format": "number"
    },
    "apy": {
      "label": "APY",
      "description": "The annual percentage yield: the yearly return with compounding included.",
      "format": "percent"
    },
    "balance": {
      "label": "Balance at maturity",
      "description": "The deposit plus all interest at the end of the term.",
      "format": "money"
    },
    "interest": {
      "label": "Interest earned",
      "description": "The balance at maturity minus the deposit.",
      "format": "money"
    }
  },
  "defaultAnswer": {
    "inputs": {
      "termUnit": "years",
      "deposit": 10000,
      "termLength": 5,
      "interestRate": 4
    },
    "outputs": {
      "balance": 12166.529024,
      "interest": 2166.5290239999995
    },
    "text": "$10,000.00 in a CD at 4% APY for 5 years grows to $12,166.53, earning $2,166.53."
  },
  "examples": [
    {
      "given": {
        "deposit": 10000,
        "termLength": 5,
        "termUnit": "years",
        "interestRate": 4
      },
      "expect": {
        "balance": 12166.529024000001,
        "interest": 2166.529024000001
      },
      "source": "APY definition in Regulation DD (12 CFR 1030, appendix A): balance = deposit × (1 + APY)^years; hand calculation in content.mdx"
    },
    {
      "given": {
        "deposit": 5000,
        "termLength": 6,
        "termUnit": "months",
        "interestRate": 4.5
      },
      "expect": {
        "balance": 5111.262075065219
      },
      "source": "hand calculation in content.mdx: 5,000 × 1.045^(6/12)"
    },
    {
      "given": {
        "deposit": 10000,
        "balance": 12000,
        "termLength": 3,
        "termUnit": "years"
      },
      "expect": {
        "interestRate": 6.265856918261115,
        "interest": 2000
      },
      "source": "hand calculation in content.mdx: (12,000 ÷ 10,000)^(1/3) − 1"
    },
    {
      "given": {
        "deposit": 10000,
        "balance": 20000,
        "interestRate": 6,
        "termUnit": "years"
      },
      "expect": {
        "termLength": 11.895661045941875
      },
      "source": "hand calculation in content.mdx: ln 2 ÷ ln 1.06"
    },
    {
      "given": {
        "balance": 20000,
        "interestRate": 5,
        "termLength": 10,
        "termUnit": "years"
      },
      "expect": {
        "deposit": 12278.265070815183
      },
      "source": "hand calculation in content.mdx: 20,000 ÷ 1.05^10"
    }
  ],
  "sources": [
    "Consumer Financial Protection Bureau, Regulation DD (Truth in Savings), 12 CFR 1030, appendix A: annual percentage yield calculation. https://www.consumerfinance.gov/rules-policy/regulations/1030/a/",
    "Federal Deposit Insurance Corporation, deposit insurance coverage ($250,000 per depositor, per insured bank, per ownership category). https://www.fdic.gov/resources/deposit-insurance/",
    "Internal Revenue Service, About Form 1099-INT. https://www.irs.gov/forms-pubs/about-form-1099-int"
  ],
  "related": [
    "compound-interest",
    "simple-interest"
  ],
  "changelog": [
    {
      "date": "2026-09-28",
      "note": "The term unit reads in lower case in the answer (“for 5 years”), and a solved term shows 2 decimals (“4.65”), not 6."
    }
  ]
}