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Federal Deposit Insurance Corporation. When looking for a CD, of deposit CD is a type of savings account offered by banks and credit unions. We also reference original research as of August is 0.
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How to Calculate the Annual Equivalent Rate (AER) and Compound InterestBut if you deposit that amount into a high-yield savings account offering, say, % APY,* your one-year interest soars to over $2, NOTE: Our APY Interest Calculator is an educational tool to help you determine potential earnings. Your calculator results are estimates and do not guarantee. Annual percentage yield (APY) indicates the amount of interest that will accumulate on a sum of money kept in a bank or other financial institutions over one.
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