Balance at maturity
$10,400.00
$10,000 in a 12-month CD at 4% APY (3.922% interest rate compounded daily)
- Deposit
- $10,000.00
- Interest earned
- $400.00
- Balance at maturity
- $10,400.00
APY (annual percentage yield)
4%
Interest rate (APR), compounded daily
3.922%
Interest kept at a 22% tax rate
$312
Early withdrawal penalty (3 mo of interest)
$98.06
If you cash out early, the penalty of $98.06 is roughly the interest from the first 3 months. Withdraw before then and the penalty can eat into your $10,000 deposit.
Growth over the term
| After | Interest earned | Balance |
|---|---|---|
| 3 months | $98.53 | $10,098.53 |
| 6 months | $198.04 | $10,198.04 |
| 9 months | $298.52 | $10,298.52 |
| 1 year | $400.00 | $10,400.00 |