adamjudish
New member
- Feb 17, 2012
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I am new to learning about money market accounts and am looking at different banks with different rates. I need help understanding the annual percentage yield. Does that mean every year the money is in the account you get a percent of what is in the account? So say I deposit on 02/16/2012 on 02/16/2013 will I get the annual percentage yield on what is in the account at that time? I guess to make things easier for me to understand here is an example of a bank I am looking at and how much I plan to deposit...
Initial deposit of $10,000.00 on 2/16/2012 The bank has an interest rate of 0.25% and an APY of 0.25% if I have no withdrawals and no deposits what would my account look like on a month to month basis and after a whole year?
Guess I just need the 101 of all this stuff. Any advice or articles to read up and learn more about this would be very helpful. Thanks.
Initial deposit of $10,000.00 on 2/16/2012 The bank has an interest rate of 0.25% and an APY of 0.25% if I have no withdrawals and no deposits what would my account look like on a month to month basis and after a whole year?
Guess I just need the 101 of all this stuff. Any advice or articles to read up and learn more about this would be very helpful. Thanks.