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4 ways to earn $1,000 with a CD now
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While inflation and elevated interest rates have caused borrowing costs to surge in recent years, they’ve also resulted in substantial returns for savers. Whether via a high-yield savings or certificate of deposit (CD) account, savers can earn exponentially more on their money than they could have if they had opened these accounts a few years ago. CDs, specifically, offer savers a clear way to determine exactly how much they’ll make thanks to their locked rate. This ensures that savers will earn the same return on their money for the full CD term, no matter what changes occur during that time in the wider rate climate.
However, savers may be best served by calculating their potential returns in advance to better determine which CD term and rate to lock in. Fortunately, in today’s unique market, there are multiple lenders offering CDs with elevated rates, thus providing a variety of ways for savers to earn $1,000 or more with a CD now. Below, we’ll break down four ways savers should consider now.
Start by seeing how much more you could make with a CD here today.
4 ways to earn $1,000 with a CD now
Looking to make five figures with a CD while rates are still high? Then it’s important to deposit a specific amount in a CD with a specific rate and term. Here are four ways to do it:
Deposit $19,000 into a 1-year CD
By depositing $19,000 into a 1-year CD with a rate of 5.36%, you will earn just over $1,000 ($1,018.40 to be specific) once the account has matured. That will bring your total funds to $20,018.40 after the 12 months are up. Just be sure to account for any potential tax implications as CD interest will need to be accounted for over a certain amount once you file your taxes.
Earn more on your money with a top CD online now.
Deposit $10,500 into a 2-year CD
If you’re looking to make a smaller deposit but are willing to leave your funds locked up for a little longer, a 2-year CD could be preferable. With a $10,500 deposit into a 2-year CD with a rate of 4.76%, you’ll make $1,023.39 after 24 months.
Deposit $7,000 into a 3-year CD
A 3-year CD may be a bit longer than preferred but it could be a smart way to earn a reliable return in an environment in which interest rate cuts appear likely. By depositing $7,000 into a 3-year CD with a rate of 4.61% you will earn $1,013.42 upon the account maturity, bringing your total funds to $8,013.42.
Deposit $4,250 into a 5-year CD
If you want a reliable return and don’t want to worry about stock market volatility a $4,250 deposit into a 5-year CD could be an option worth pursuing. By depositing this amount with an account that has a 4.50% rate you’ll make $1,046.27 once the CD has matured.
The bottom line
The above list is not exhaustive. There are a variety of ways to earn hundreds and even thousands of dollars on a CD now. Even a 6-month CD could result in a return of $1,000 right now (although it will require a hefty $38,000 deposit and a 5.35% rate to earn it). But, in today’s economy, there’s likely a CD rate and term that works for you. And by shopping around for an account you can potentially even earn a 6% or 7% rate right now. Just be sure to only deposit funds that you’re comfortable parting with for the full CD term or you’ll get stuck with an early withdrawal penalty for accessing your money prematurely.
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CBS News
Kamala Harris will speak with “60 Minutes” tomorrow. Here’s what to know for the interview.
Voters will get the chance to hear from Vice President Kamala Harris on Monday as she presents her case for why she should be president in a “60 Minutes” election special.
For decades, “60 Minutes” has featured both Republican and Democratic nominees for presidents, but this year, former President Donald Trump backed out after previously indicating he would be on the show. Correspondent Scott Pelley, who’d been set to interview Trump, will instead travel to Arizona’s Maricopa County, home to more than 60% of Arizona’s voters and a critical battleground in a key swing state.
One thing is certain about the election; with the U.S. deeply involved in both the wars in Ukraine and the Middle East, whoever wins on Nov. 5 will become a wartime president.
What Harris will discuss
Israel’s war started one year ago after Hamas launched a surprise terror attack and correspondent Bill Whitaker will discuss the ongoing war with Harris.
Harris will also discuss the economy, immigration, her record as vice president and the differences between herself and Trump.
Democratic vice presidential candidate Gov. Tim Walz will also appear.
Whitaker joined the Democratic ticket on the campaign trail this week to gain insight into their platform’s priorities and values, and what the candidates believe voters should know.
Why Trump pulled out of the “60 Minutes” interview
Leading up to the candidate hour, Trump, through campaign spokespeople, was the first candidate to accept the “60 Minutes” request to be interviewed for the special, according to CBS News. It had been agreed that both candidates would receive equal time during the broadcast.
Trump last sat down with 60 Minutes in 2020. He walked out during the interview with Lesley Stahl. Trump referenced the incident on Tuesday night at a Milwaukee press conference when asked about his decision not to participate in the Oct. 7 “60 Minutes” election special.
“Well, right now, I went to – they came to me and would like me to do an interview, but first I want to get an apology, because the last time I did an interview with them, if you remember, they challenged me on the computer,” Trump said. “They said the ‘laptop from hell’ was from Russia, and I said it wasn’t from Russia. It was from Hunter, and I never got an apology, so I’m sort of waiting. I’d love to do ’60 Minutes.’ I do everything.”
The Republican nominee for president emphasized that he felt he was owed an apology from “60 Minutes.”
“Let’s see if they do it. I wouldn’t mind doing 60,” Trump continued. “I’ve done ’60 Minutes’ a lot.”
In a statement on Tuesday, Trump campaign communications director Steven Cheung said that Trump’s team had not agreed to an interview.
“Fake News,” Cheung said in a post on X. “60 Minutes begged for an interview, even after they were caught lying about Hunter Biden’s laptop back in 2020. There were initial discussions, but nothing was ever scheduled or locked in. They also insisted on doing live fact checking, which is unprecedented.”
Previous Trump, Harris appearances on 60 Minutes
Trump previously sat down with “60 Minutes'” Mike Wallace in 1985, Pelley in 2015 and Lesley Stahl twice in 2016, first in July of that year and then again in November of 2016. He also spoke with Stahl again in 2018 and 2020.
Harris previously sat down with Whitaker last year. She also was interviewed by Norah O’Donnell, “CBS Evening News” anchor and “60 Minutes” contributing correspondent, in 2020.
