How Does APY Work on a Certificate of Deposit?

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How Does APY Work on a Certificate of Deposit? – This is a place for the community to provide tips and advice on How Does APY Work on a Certificate of Deposit?. This topic was created by johnson veerapaneni and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - How CDs Help you Earn More

Published: 9 years, 5 month(s) ago | Submitted by Deborah Meredith | permalink

Certificates of Deposit (CDs) are one of the safest investment options available. Find out how they work and how you can maximize your earnings at the bank.

For further reading: http://banking.about.com/od/cds/a/cdbasics.htm ^[1]

Tip 2 - How to Get the Best APY

Published: 9 years, 5 month(s) ago | Submitted by Sussette Olea | permalink

Annual percentage yield (APY) tells you how much you're earning at the bank - or how much it costs you to borrow. Learn how it works, how to calculate it, and how APY is different from APR.

For further reading: http://banking.about.com/od/savings/a/apy.htm ^[2]

Tip 3 - CD Rate Calculator to Calculate Interest Earnings and APY/EAR

Published: 9 years, 5 month(s) ago | Submitted by camo 5 | permalink

Calculate the growth and annual percentage yield on a certificate of deposit at various compounding intervals using this free online CD rate calculator.

For further reading: http://www.free-online-calculator-use.com/cd-rate-calculator.html ^[3]