CD -- "APY" vs. "at Maturity"

Those numbers don't make sense to me. APY is supposed to mean what you will earn after one year. Maturity is supposed to mean the amount you will earn when the CD matures. So how can a 10-month CD earn more at maturity than APY? The maturity rate should roughly be APY*10/12.

Anyways, in general, the number you really care about is the APY. Because that will allow you to compare fairly to CDs of differing lengths.

Bankrate.com shows the highest 1 yr CD at 5.5% APY, 1,000 min deposit. Why do you need an investment manager to show you that?

I don't understand that comment. However, in an attempt to be HELPFUL, bankrate.com shows all APYs to be more than the rate (I guess due to some compounding effect), so it looks like your 3.13 APY is a typo.

Compounding will do that.

Kind of like the rule of 72 (money will double in [72/interest rate] years) but at the lower level.

JOE

I don't understand how those numbers can be correct, but if they are correct you don't want it. At bankrate.com the highest yield CD for 9 months for minimum $1000 is 5.51 APY (5.36% rate).

Please ask the exact amount you invest and then receive after 10 months.

Thank you to all who replied. I could not see how the numbers corrolated either, and thought I must have been missing something in the interpretation. Thank you once again for you feedback!

Thank you, Kevin