The penalty is a severe reduction in interest payout. In an extreme case, your money could be deposited in a CD and you get no interest at all if you remove it too soon. You will loose the interest but not the principal.
Unless I'm wrong, CD interest is paid at maturity of the CD. One thing that got me was that say they are offering 4% yearly interest on your CD except the CD is actually 6 months to maturity. Your Interest gains will be 2% and not 4. Find someone who knows more than a bunch of guys on a hunting...
I'll just guess that today's payoff number is much less than letting it run full term. I'll also guess that the CD interest accumulation is less than the total full term payoff. I'd check my math again.
Does anyone have any suggestions for an EASY and inexpensive burger press? Right now in using a plastic cup and piston type press that I made a platform with a press lever (aluminum bar,) it works but it's cumbersome and hard on my back. We do maia couple hundred burgers a year so I I'm not...