# CD Calculator – Find Out How Much Your CD is Worth

October 25th, 2012 by David WaringUs the **CD Calculator** to find out how much your CD will be worth when you cash it in at maturity. You can also use it to calculate the value of a savings account at a future date.

### How do you use the CD Calculator?

You’ll need to put in the following information:

**Present Value:** Enter the amount of money you have in your CD or your savings account today (don’t put any commas in the figure).

**Interest Rate (% Per Period):** There are two possibilities here, depending on the information you have. If you know what the yield is for your account (the Annual Percentage Yield or APY), then enter this figure into the CD calculator. Otherwise, if you know what the yearly interest rate is, then divide the interest rate by 365 (the number of days in a year), and enter the result here.

**Number Of Periods:** According to what you used for the Interest Rate described above, you also have two possibilities here. If you used the yield (an annual figure) as the input for the Interest Rate, then put in the number of years into the CD calculator. On the other hand if you used a daily interest rate for the Interest Rate, then put in the number of days here (for example, 3650 days if you wanted to specify the equivalent of ten years).

**Future Value:** When you’ve entered in the data above and clicked on “Calculate”, this is the result. The CD Calculator tells you how much money you’ll have from your CD or in your savings account at the date in the future that you defined via the number of periods.

### What are the limitations of the CD Calculator?

It will only calculate using a fixed interest rate. In savings accounts and money market accounts, interest rates may change: what you get in the future may not be what you start off with today. There may also be differences in the way the calculation is done for interest that is compounded; some CD interest calculations use a figure of 360 periods per year instead of 365. In general however, CDs using daily (or nearly daily) compounding of interest are preferable to those that only compound a few times a year.