Comparing interest rates and compounding methods on different CDs can be confusing. The annualized percentage yield (APY) takes both into consideration and makes comparison much easier. Determining the interest earnings from a particular CD is helpful in evaluating potential investments.
CDS/SAVINGS CALCULATORS
Certificate of Deposit Calculator
This calculator will determine the amount of interest you can earn on a certificate of deposit. Click "View Report" to see the ending balance and total interest earned.
This Financial Calculator requires SUN's Java™ Plug-in. If you see this message you will need to download SUN's Java™ Plug-in. You can also get SUN's Java™ Plug-in here: Get the Java™ Plug-in!.
Initial deposit: The starting balance for your CD. Months: The total number of months for this CD to mature. Interest rate: The published interest rate for this CD. Make sure to enter the actual interest rate, not the annual percentage yield (APY). Annual percentage yield (APY): This is the effective annual interest rate earned for this CD. A CD's APY depends on the frequency of compounding and the interest rate. Since APY measures your actual interest earned per year, you can use it to compare CDs of different interest rates and compounding frequencies. Compounding: Interest earned on your CD's accumulated interest. This calculator allows you to choose the frequency that your CD's interest income is added to your account. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest. You may wish to check with your financial institution to find out how often interest is being compounded on your particular CD.
DIGG | 
del.icio.us