Certificate of Deposit (CD) Calculator
Parameter |
Description |
Example Value |
Initial Deposit |
The initial amount of money deposited into the CD. |
$5,000 |
Annual Interest Rate |
The annual interest rate applied to the CD. |
3% |
Compounding Frequency |
The frequency at which interest is compounded (e.g., monthly, quarterly). |
Quarterly |
Term Length (years) |
The length of time the money is deposited in the CD. |
5 years |
Future Value |
The value of the deposit at the end of the term, after interest is applied. |
$5,796.92 |