Certificates of Deposit (CDs) can be a reliable and safe way to grow your savings. They generally pay a lower interest rate -- stated as an annual percentage yield (APY) -- than non-insured investments such as stocks and bonds.
Use this CD calculator to calculate the value of your CD at maturity, and see how factors such as the term and interest rate can affect the value when you cash it in.
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So you’ve signed up for your company’s 401(k) plan or opened an IRA for your retirement savings. Congrats! That’s a great first step. But if you haven’t made your investment choices yet, you may still be behind the curve.