How do i calculate certificate of deposit interest?

Answer Divide the annual interest rate by the number of compounding periods per year. Add 1 to the result. Many bank CDs compound each month, so you usually divide by 12. For example, if your CD pays 4.5 ... Read More »

Top Q&A For: How do i calculate certificate of deposit interest

How do I calculate interest on a certificate of deposit?

Annual CompoundingIf the beginning and ending balance on a certificate of deposit (CD) account is known then the difference between the two is equal to the interest received. If not, all that needs... Read More »

How do I calculate yearly deposit amounts based on total certificate of deposit amount?

Figuring the DepositAdd 1 to the interest rate per month, then raise the number to the power of the number of times the CD compounds. This is the interest factor. Divide the total amount of the CD ... Read More »

How to Get a High Interest One-Year CD (Certificate of Deposit)?

A CD, also known as a certificate of deposit, is an investment similar to a high-yielding savings account. The main difference is that the investment cannot be withdrawn before it matures, unless y... Read More »

How do i claim interest on a certificate of deposit for a minor?

Choose how to report the interest income. When the certificate of deposit is held in the name of a minor, the parents have the choice of reporting the interest earned on their personal income tax r... Read More »