APY vs APR
APY already includes compounding, so balance = deposit × (1 + APY)years. Breaking a CD early usually costs several months of interest.
FAQ
How much does $10,000 earn in a 1-year CD at 4.1% APY?
$410 before tax.
Sources (checked Nov 6, 2026): FDIC deposit insurance; IRS Topic 403 (interest received).