Calculate your potential earnings on a 1.25-year fixed-term deposit.
Daily
Monthly
Quarterly
Semi-Annually
Annually
Initial Deposit:
Total Interest Earned (15 Mo):
Total Ending Balance:
How a 15-Month CD Works
A 15-month Certificate of Deposit (CD) is a time-bound savings account that typically offers a higher Annual Percentage Yield (APY) than a standard savings account. In exchange for this higher rate, you agree to leave your money in the account for exactly 15 months (1.25 years).
The Power of Compounding
Your earnings are determined by how often the financial institution calculates interest. This calculator supports various compounding frequencies. The more frequently interest is compounded (e.g., daily vs. annually), the more you earn over the 15-month term because you earn "interest on your interest."
Example Calculation
If you place 10,000 into a 15-month CD with a 5.00% APY compounded monthly:
Initial Investment: 10,000
Term: 15 Months
Total Interest: ~643.51
Final Balance: ~10,643.51
Early Withdrawal Penalties
While the 15-month term offers stability, it is important to remember that most banks charge a penalty if you withdraw your funds before the 15 months have passed. Common penalties include losing 3 to 6 months of interest earnings. Always ensure you won't need the principal before the maturity date.
function calculateCDValue() {
var principal = parseFloat(document.getElementById('initialDeposit').value);
var apy = parseFloat(document.getElementById('apyValue').value);
var frequency = parseFloat(document.getElementById('compoundingPeriod').value);
var timeInYears = 1.25; // Fixed 15 months = 1.25 years
if (isNaN(principal) || isNaN(apy) || principal <= 0 || apy < 0) {
alert("Please enter valid positive numbers for deposit and APY.");
return;
}
// Formula: A = P(1 + r/n)^(nt)
// r = annual rate in decimal
// n = frequency
// t = years
var decimalRate = apy / 100;
var exponent = frequency * timeInYears;
var base = 1 + (decimalRate / frequency);
var finalBalance = principal * Math.pow(base, exponent);
var totalInterest = finalBalance – principal;
// Formatting
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
});
document.getElementById('resInitial').innerText = formatter.format(principal);
document.getElementById('resInterest').innerText = "+" + formatter.format(totalInterest);
document.getElementById('resTotal').innerText = formatter.format(finalBalance);
document.getElementById('cdResults').style.display = 'block';
}