Currency: USD
Enter all amounts in USD. Changing currency keeps numbers unchanged; no exchange rate is applied.
- Projected balance
- $54,713.58
- Total contributions
- $34,000.00
- Growth after modeled tax
- $20,713.58
- Modeled investment tax
- $0.00
- Inflation-adjusted value
- $54,713.58
Savings over time
USDContributions and growth
USDContributions and net growth in the projection.
- Contributions$34,000.0062.1%
- Growth$20,713.5837.9%
Detailed breakdown
| Year | Contributions (USD) | Growth (USD) | Balance (USD) |
|---|---|---|---|
| 1 | 12,400.00 | 801.42 | 13,201.42 |
| 2 | 14,800.00 | 1,834.27 | 16,634.27 |
| 3 | 17,200.00 | 3,115.28 | 20,315.28 |
| 4 | 19,600.00 | 4,662.39 | 24,262.39 |
| 5 | 22,000.00 | 6,494.83 | 28,494.83 |
| 6 | 24,400.00 | 8,633.24 | 33,033.24 |
| 7 | 26,800.00 | 11,099.74 | 37,899.74 |
| 8 | 29,200.00 | 13,918.03 | 43,118.03 |
| 9 | 31,600.00 | 17,113.55 | 48,713.55 |
| 10 | 34,000.00 | 20,713.58 | 54,713.58 |
How it works
Do not compound an APY twice
An advertised APY already includes compounding. For a one-year comparison, enter that APY as the annual rate with annual compounding, or convert it to a matching nominal rate before selecting more frequent compounding.
Interpreting certificate of deposit growth
Use the CD calculator with the deposit, term, and rate convention that match the product you are reviewing. Compare the final balance with the interest earned, rather than treating the entire maturity value as a gain. Check the institution's compounding and withdrawal conditions separately. Early-withdrawal charges or a different credited rate can make actual proceeds differ from the modeled maturity value.
Savings growth: formula and assumptions
Each period: balance grows at the equivalent periodic rate, then a contribution is added (or added first for beginning-of-period deposits).
Returns and inflation are assumptions held constant. Annual taxes on positive interest are deducted at year end.
Worked example
Reference example currency: USD. These fixed examples do not change with your calculator preferences.
Using the Savings growth example:
- Starting amount ($)
- 10000
- Regular contribution ($)
- 200
- Contribution frequency
- Monthly
- Nominal annual return (%)
- 7
- Time horizon (years)
- 10
- Compounding per year
- Monthly
- Contribution timing
- End of each period
- Tax rate on annual interest (%)
- 0
- Annual inflation assumption (%)
- 0
Each period: balance grows at the equivalent periodic rate, then a contribution is added (or added first for beginning-of-period deposits).
Example result
Projected balance: $54,713.58
Total contributions: $34,000.00
Growth after modeled tax: $20,713.58
Modeled investment tax: $0.00
Inflation-adjusted value: $54,713.58
These are illustrative inputs. Change the values to explore a different scenario.
What to keep in mind
Projected returns are hypothetical. Actual returns, fees, tax treatment, and deposit terms may differ.
Formula references
- CFPB: understanding mortgages (opens in a new tab)
- Investor.gov: financial tools and calculators (opens in a new tab)
References explain the underlying methods; they do not imply endorsement or individual professional review of Finflo.
Common questions
Can I assume my CD allows recurring deposits?
No. Some CDs restrict additions. Set recurring contributions to zero unless the actual deposit product permits them.
Does the estimate deduct an early-withdrawal penalty?
Not automatically. Penalties, promotional terms and product-specific interest rules must be checked against the CD agreement.
Prepared by Finflo. See our methodology and editorial policy. Read the relevant professional-advice limitations.