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10,450.00$
Value at maturity: 10,450.00 $Personal inputs stay on this device. Sharing sends the calculator page without these values.
Your current valid inputs, with one value varied across the range.
Held fixed: Deposit 10,000.00 $, How the rate is quoted APY — yield after compounding, Interest rate 4.500 %, Compounding (nominal rate only) Daily, Opening date 2026-10-28.
| Term in months | Value at maturity ($) |
|---|---|
| 10 | 10,373.41 |
| 12Your value | 10,450.00 |
| 20 | 10,762.06 |
APY already contains the compounding; a nominal interest rate does not. Enter the rate the way your bank quotes it and pick the matching type — treating a nominal rate as an APY understates the result. The term is counted in actual days from the opening date, as Regulation DD does.
10,450.00$
6,382.26$
26,146.31$
APY: D × (1 + r)^(days/365) · daily: D × (1 + r/365)^days · else: D × (1 + r/n)^(n·months/12)
Maturity and gross interest use one scenario: interest is maturity minus the initial principal. Money values display independently rounded to cents; a sub-cent principal from reverse solving can cause a one-cent display difference. APY already includes compounding, so 10,000 at 4.5 % APY over 365 days matures at 10,450.
Nominal rates are divided between the chosen periods: the same 4.5 % reaches 10,460.25 compounded daily and 10,459.40 monthly over that year. The opening date determines actual days, including leap days. A term ending on a missing month-day ends on that month's last day.
For nominal-rate input, the extra annualized yield is 100 × ((maturity/principal)^(365/term days) − 1), using this same maturity and calendar convention. It is unavailable with zero principal; entered APY is never relabelled as a newly derived yield. Daily nominal compounding uses actual days, while longer periods use months/12.
Reverse-solved fractional months interpolate within the calendar month. Values exclude tax and early-withdrawal penalties; bank-specific interest rounding and 366-day conventions can differ.
An APY already contains the compounding, so that branch never reads the frequency. Pick a frequency only when your bank quoted a nominal rate.
At 4.5 % nominal over one year, daily compounding beats monthly by 85 cents. Against yearly compounding the same deposit differs by 10.25.
The value at maturity is shown before tax and before any early-withdrawal penalty. Both sit outside this calculation.
The source behind this calculator is US Regulation DD, which defines APY for US deposit accounts — hence the dollar sign, though the arithmetic is currency-neutral. Like the regulation, it counts the actual days from the opening date, so six months is 181 to 184 days and a term across 29 February has one more. A bank may annualize over 366 days in a leap year or end a month-end term on another day, so a few cents' difference is possible.
MisconceptionA rate is a rate — APY and a nominal rate go in the same way.
CorrectionAPY is the effective yearly rate with compounding already included; a nominal rate is not. Treating a nominal rate as an APY understates the result.
MisconceptionDaily compounding is worth much more than monthly.
CorrectionAt 4.5 % nominal over one year, 10000 grows to 10460.25 daily and 10459.40 monthly. That is 85 cents apart.
MisconceptionI have to convert the term into years first.
CorrectionThe term is entered in months, from one to 120, and counted in actual days from the opening date. An 18-month CD needs no conversion.
| Rate type | What it means |
|---|---|
| APY | Effective yearly rate — compounding already included |
| Interest rate | Nominal yearly rate — spread over the compounding periods |
APY is the effective yearly rate with compounding already included; a nominal rate is not. Enter the rate the way your bank quotes it and pick the matching type — treating a nominal rate as an APY understates the result.
For an APY the calculator raises 1 plus the rate to the power of the term's actual days divided by 365, which is the Regulation DD formula solved for the balance. For a nominal rate it compounds at the chosen frequency; daily compounding applies r/365 once for each actual day of the term.
Less than most people expect. At 4.5 % nominal over one year, 10000 grows to 10460.25 compounded daily and 10459.40 compounded monthly — 85 cents apart. Against yearly compounding the same deposit differs by 10.25, so the first step from yearly to monthly is worth more than every step after it.
One to 120 months, which is ten years, counted from the opening date to the same day that many months later. If that day does not exist, as for a one-month term opened on 31 January, the term ends on the last day of the month.
The source behind this calculator is US Regulation DD, which defines APY for US deposit accounts. The arithmetic itself is currency-neutral — the same numbers hold whatever the currency.
Information, not financial advice.
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