Calculate How Much More You'll Save With a CD Ladder vs. a Single CD

Interest rates on savings accounts aren’t very high, but a certificate of deposit (CD) lets you earn at least a little interest on your hard-earned savings. And a CD ladder might earn you even more over time. This calculator will tell you how much you’ll save with both options: a single CD and a CD ladder.

We’ve told you where to park your savings before, and CDs are a solid option for short to medium-term goals. You agree to save your money in the account for a set period of time, and the longer the time frame, the higher your interest rate. And with a CD ladder, your savings are reinvested at a higher rate after each term, potentially saving you even more. This calculator from Dinkytown will show you just how much. http://ift.tt/1JBx4BI...

Plug in your total savings amount, how much you want in each CD, how frequently the CD matures, and how often interest is compounded. You’ll then see how much you’ll save over time, per period, by laddering your CD versus using a single one.

Give it a try for yourself at the link below.

CD Ladder Calculator | Dinkytown

from Lifehacker http://ift.tt/1JBx4BK

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