Money Market account - Interest and APY?
830956
Its really not that complicated…  Look first there is APR and then there is APY.  APR means Annual Percent Rate.  And APY means Annual Percent Yield.  \nIn your example of 4% this is the annual rate, your monthly rate would be 4% / 12.  12 being 12 months in one year.\nAPY means your APR plus any compounded interest that was earned and added to your initial investment.  The APY should always be higher than the APR.  \n\nI hope this helped…
905970
Microsoft Excel can help with these kinds of calculations.  Though, an interest formula like this fails to take into account future additions to the principle of your retirement account.  Most people take some of each paycheck and put it into a retirement account rather than depositing a lump sum and forgetting about it.\n\nDon't forget to factor in inflation and taxes somehow!
100569
Hi again, Stef. The $13,000 is not income per se. The interest you made on the principle (the original amount you deposited into the fund) is income. I do not know what you re doing with the dividends you make on the fund. Are you reinvesting it? Unless you are talking big, big, bucks here in dividends, you have no worries. However, I am concerned that you were charged so much for an 8 year old car.
340215
The question isn't very clear, but I will do my best to answer. There is no such thing as a money market fund in foreign currencies, unless you actually open a foreign money market account ie: an australian bank money market account etc. I think you are talking about a liquid investment into a forex fund which I work with on a daily basis. The returns are significantly better by keep a liquid investment in a forex fund then investing in a foreign money market fund. If you would like more info. please email me.
574778
first, start with how much money you have, then find the rate, and the time\n\nfor example:\nI have $20,000, at a rate of 12% for 36 months. The interest would be $20,000 times .12 times 36.
149317
There really are no calculations because they are not charging you ANY interest at all (probably for a certain amount of time only, right?) You will only be paying the Principle during that time, which means you are making a payment that actually reduces the total cost by the exact amount you pay.  WHen interest begins accruing, then each payment you make will be partially going to the product cost (prinicple) and partially to the interest cost (the creditor's profit for lending the money).  There is no better interest rate than 0%.  So, good going!
1859
Money Market accounts typically offer a much higher rate of return than savings accounts. They invest in super safe securities such as short term bonds and t-bills. They are completely liquid (you can make withdraws whenever). I highly recommend opening a money market account simply because you earn 2% or 3% more than a savings account. They also adjust to the current interest rate much faster than savings accounts which typically move like molasses on a winter day.
370585
For checking accounts, typically nothing or next to nothing.  For savings account, anywhere from 1% to 3%, depending on the amount of money in the account.  You probably need at least 100k to get the full benefits of high interest.  The smaller banks have to give higher rates to attract customers from the bigger banks.
709709
the AA are currently offering 5.1% for a phone based account\n\nhowever that includes a bonus which could disappear next year so watch the interest rate on your account carefully and move it if it does fall
1030540
Even though its an annual fee it will accrue interest in you do not pay the whole balance off.\n\nLC
613385
You should first set aside some money in an emergency fund in a savings account...in my region you can earn about 3.3% on a money market savings account.  This money is liquid and you can access it at any time.\n\nOnce you've done that, you should determine what you're saving for.  Is it for a particular purchase, such as a down payment on a house?  Or is it for retirement?  If it will be invested short-term, you might look into Certificate of Deposits offered by banks...interest rates have climbed substantially from where they were 2 years ago.  Or if for retirement, I recommend a Roth IRA.
1072634
There are 2 types of interests, simple and compound. My assumption is you are talking about simple interest. In simple interest, the interest remains the same over the time period, in compound interest, the interest increases. \n\n For simple interest, this are the things you need.\n I = the interest.\n r= rate (in percentage)\n t= time frame (mostly per annum)\n p= principal amount\n\nthe formula is\n I = (p x rx t) / 100 \n solving for r gives you this results,\n\nr = (100 x I) / (p x t) \n\n This is for general Maths. For specific fields, you'll have to check    for it in that field, or you'll have to mention it.\n \n Take care.
627430
I will give you the best advice ever.\n\nGo check out http://www.emigrantdirect.com They are a savings account that you can access online. Usually in banks, you need to put your money into a CD for at least 1 million dollars to get the APY that emigrant direct gives you. There are no fees, no penality, and no minimum savings. You can put whatever amount you want into emigrant, and you will gain this amazing APY. \n\nI bet if you ask anybody about emigrant, they will only tell you good things about it. It is one of the best Savings account out there. You can transfer the funds from emigrant to your checking anytime and anywhere, without ANY fees.\n\nI really suggest you check it out.
867802
US$51,267.45\n\nUS Certificates of Deposits compound daily, under the Truth in Savings Act (TISA).  So the APY on a CD will be higher than the face rate on the CD. \n\nYou can check it out yourself:\nhttp://www.bankrate.com/brm/calc/cdc/CertDeposit.asp
968929
The shorter the interest term the faster it grows as the principal grows more quickly so you get more interest on your interest\n\nFor example lets look at the interest gained over 1 year on an interest rate of 12% per annum\n\nYearly: Well at the end of the year A = 1.12*P\nSo interest gained = 1.12*P - P = 0.12*P\n\nHalf Yearly: Well at the end of the year A = (1.06)*(1.06)*P (because the interest is applied each 6 months\n= (1.06)² * P\n= 1.1236*P\nSo interest gained = 1.1236*P - P = 0.1236*P > 0.12P\n\nQuarterly: Well at the end of the year A = (1.03)*(1.03)*(1.03)*(1.03)*P \n= (1.03)^4 * P\n≈ 1.1255P\nSo interest gained = 1.1255*P - P = 0.1255*P > 0.1236P\n\nMonthly: Well at the end of the year A = (1.01)*(1.01)* ... *(1.01)*(1.01)*P \n= (1.01)^12 * P\n≈ 1.1268P\nSo interest gained = 1.1268*P - P = 0.1268*P > 0.1255P\n\nDaily: Well at the end of the year A = (1.0003288)*(1.0003288)* ... *(1.0003288)*P \n= (1.0003288)^365 * P\n≈ 1.1275P\nSo interest gained = 1.1275*P - P = 0.1275*P > 0.1288P\n\nNow while it may not sound like much over 1 year over 20 years it can become significant\n\nJust quickly over 20 years\n\nYearly: Interest = ((1.12)^20 -1)*P = 8.6463*P\nHalf Yearly: Interest = ((1.06)^40 - 1)*P = 9.2857*P\nQuarterly: Interest = ((1.03)^80 - 1)*P = 9.6409*P\nMonthly: Interest = ((1.01)^240 - 1)*P = 9.8926*P\nDaily: Interest (using 365.25 days per year to account for leap years)= ((1.0003285)^365.25*20 - 1)*P = 10.0154*P
454294
OK, I have been in banking for 13 years and I cannot understand your question- Am going to try to explain what\nI THINK I understood. \n3 month cd or treasury bills, the rate you are quoted is the APY 4% - that is the annual percentage yield - the interest you would make on that money if it was to stay in that account for 12months at that rate. But since it is a 3- month, you will have to take the money out and invest it in something else. You cannot compound it because the deal expires after 3 months - Now does that make sense ?
741066
Not much going for free but check out Internet Banking interest rates, they beat the normal current account rates. x