How to use it
- Enter Starting amount.
- Enter Annual rate %.
- Enter Years.
- Enter Compounds / year.
- Enter Monthly contribution.
The formula
CD grows at a fixed rate to maturity.
Worked example
A 5% one-year CD on $10,000 returns about $500.
Frequently asked questions
Can I withdraw early?
Usually with a penalty.
Fixed rate?
Yes, for the whole term.
Tips
- Automate deposits so saving happens by default.
- Keep an easy-access emergency buffer separate from goals.
- Chase a competitive rate — the gap compounds.
Key terms
- APY
- Yearly rate including compounding.
- Liquidity
- How easily you can access funds.
- CD
- A fixed-term deposit.