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# Interest by Frequency

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## CD Calculator Online

A certificate of deposit (CD) is a product offered by banks and credit unions that provides an interest rate premium in exchange for the customer agreeing to leave a lump-sum deposit untouched for a predetermined period of time.

Almost all consumer financial institutions offer them, although it’s up to each bank which CD terms it wants to offer, how much higher the rate will be compared to the bank’s savings and money market products, and what penalties it applies for early withdrawal.

The formula for calculating certificate of deposit is as follows:

FB = ID * (1 + R/CF) (T*CF)

Where

• FB - Final balance or similarly called final value or future value,
• ID - Initial deposite or also referred as a principle amount or present value,
• R - Expected annual interest rate,
• T - Tenure or term,
• CF - Compound frequency means that the interest is how many times compounded per year.

## What can you do with CD Calculator?

• It helps to calculate CD and helps to project your future interest earnings.
• Users can see the accurate final balance and interest. And also can see the final balance in words.
• The chart represents the growth of the total amount and initial amount by the scale of two years.
• Users can easily see their calculations in detail by the table. Based on the selected compound frequency table describes the opening balance, your earned interest, closing balance and period.
• This calculator helps to share your calculations by URL.