I have a money market account with 7 yield. What does this mean?

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I have a money market account with 7 yield. What does this mean?

2007-02-09 08:48:14 · 3 answers · asked by djquack12 1 in Business & Finance ➔ Investing

3 answers

Its just the yield you'll earn on the day you open the money market account - its the average for last 7 days - short of major market upheaval - that's the rate you'll earn

2007-02-09 08:54:30 · answer #1 · answered by lucky_lenny_1964 3 · 0⤊ 0⤋

If it is a USA money market account, 7% yield is way too much. They are now yielding between 4% and 5.5%. Most likely it is a typo and should read with a 7 day yield of X%.

2007-02-09 19:39:47 · answer #2 · answered by gosh137 6 · 0⤊ 0⤋

7% interest per year....not too bad.

2007-02-09 16:58:17 · answer #3 · answered by zizou 2 · 0⤊ 1⤋