Your investment's estimated value at maturity will be:
$0.00
Understanding CD Maturities and Growth
This calculator helps you estimate the future value of a Certificate of Deposit (CD) with Wells Fargo, based on your initial deposit, the annual interest rate, and the term length. Certificates of Deposit are fixed-term investments that typically offer a guaranteed interest rate for a set period. When the term ends, your CD "matures," and you receive your principal back plus the accumulated interest.
How the Calculation Works:
The formula used here projects the total amount you'll have at the end of your CD term. It accounts for compound interest, assuming interest is compounded annually for simplicity in this projection.
The core calculation is based on the future value of an investment:
FV = P * (1 + r/n)^(nt)
Where:
FV is the Future Value of the investment/loan, including interest.
P is the Principal amount (the initial deposit).
r is the annual interest rate (as a decimal).
n is the number of times that interest is compounded per year. For this calculator, we simplify by assuming n=1 (annual compounding).
t is the number of years the money is invested for.
In our calculator:
Initial Deposit is your 'P'.
Annual Interest Rate (%) is converted to 'r' (e.g., 4.5% becomes 0.045).
Term (in Months) is converted to 't' by dividing by 12.
The calculator then displays the total amount (Principal + Interest) you can expect to receive upon maturity.
Why Use a CD Calculator?
Planning: Helps visualize potential savings growth for short-to-medium term goals.
Comparison: Allows you to compare different CD offers from Wells Fargo or other institutions by inputting varying rates and terms.
Goal Setting: Assists in determining how much you need to deposit or what interest rate you might need to reach a specific savings target.
Please note: This calculator provides an estimation. Actual returns may vary based on compounding frequency (some CDs compound daily, monthly, or quarterly), fees, or changes in interest rate policies if the CD is not a fixed-rate product. Always consult Wells Fargo's official CD terms and conditions for precise details.
function calculateMaturityValue() {
var initialDeposit = parseFloat(document.getElementById("initialDeposit").value);
var annualInterestRate = parseFloat(document.getElementById("annualInterestRate").value);
var termMonths = parseInt(document.getElementById("termMonths").value);
var resultElement = document.getElementById("result").querySelector('.final-amount');
// Basic validation
if (isNaN(initialDeposit) || initialDeposit < 0) {
resultElement.innerText = "Please enter a valid initial deposit.";
return;
}
if (isNaN(annualInterestRate) || annualInterestRate 100) {
resultElement.innerText = "Please enter a valid annual interest rate (0-100%).";
return;
}
if (isNaN(termMonths) || termMonths < 1) {
resultElement.innerText = "Please enter a valid term in months (at least 1).";
return;
}
// Convert rate to decimal and months to years
var rateDecimal = annualInterestRate / 100;
var termYears = termMonths / 12;
// Calculation assuming annual compounding (n=1) for simplicity in this projection
// FV = P * (1 + r)^t
var futureValue = initialDeposit * Math.pow(1 + rateDecimal, termYears);
// Format the result to two decimal places and add a dollar sign
resultElement.innerText = "$" + futureValue.toFixed(2);
}