How much interest can a $40,000 short-term CD earn now (and is it worth opening)?

Significant interest earnings on a $40,000 short-term CD can pile up quickly in today's elevated rate climate. sakchai vongsasiripat/Getty Images If you've been able to save a large amount of money – such as $40,000 – in recent years, then you probably want to keep a close eye on it. And investing it now, when stock returns are high, is understandable. After all, returns on stocks have historically been as high as 16% . …