The possibility to excite and detect acoustic waves in fluids using capacitive transducers built on silicon using surface micromachining offers attractive opportunities in the manufacturing of high quality low cost imaging probes. As in the case of standard probe transducers, simulation codes are required to accurately design such devices. The periodic structures extensively used for these capacitive transducers has to be accounted for. In this work, a two-dimensional finite element analysis of capacitive micromachined ultrasonic transducers (cMUT) is proposed, taking into account periodicity and radiation in fluids. The convergence of the calculation is verified using different computation approaches. It is then shown that the periodic computations provide a rapid and precise analysis of the cMUT compared to non periodic calculations. The mutual displacements are deduced from the periodic harmonic calculation, providing an efficient estimation of cross-talk phenomena arising for cMUT radiating in water. The capability of cMUT operating under such conditions to generate a low velocity wave guided at the fluid/silicon interface is theoretically pointed out.