How much does a $1,000 CD earn at 5.5% for 1 year?
$1,056.41
A $1,000 certificate of deposit at 5.5% for 1 year matures at $1,056.41 — $56.41 of interest.
How it is worked out
A CD compounds at a fixed rate for a fixed term. Monthly compounding is the usual case, and the APY is what that compounding is worth over a year — always slightly above the stated rate.
$1,000 × (1 + 5.5% ÷ 12)^(12 × 1) = $1,056.41
APY 5.64%. Interest earned: $56.41.
Open the full CD calculator to use your own figures.
Similar questions
- $1,000 · 5% · 5 years = $1,283.36
- $1,000 · 5.5% · 3 years = $1,178.95
- $1,000 · 5% · 3 years = $1,161.47
- $1,000 · 5.5% · 5 years = $1,315.70
- $1,000 · 5% · 1 year = $1,051.16
- $1,000 · 4.5% · 5 years = $1,251.80
Questions
- How much does a $1,000 CD earn at 5.5% for 1 year?
- A $1,000 certificate of deposit at 5.5% for 1 year matures at $1,056.41 — $56.41 of interest. $1,000 × (1 + 5.5% ÷ 12)^(12 × 1) = $1,056.41.
- How is this worked out?
- A CD compounds at a fixed rate for a fixed term. Monthly compounding is the usual case, and the APY is what that compounding is worth over a year — always slightly above the stated rate.
- Can I use my own figures?
- Yes — the CD calculator takes any values and shows the full result.