What's a 7-day yield on a 2.37% money market account?

What%26#039;s a 7-day yield on a 2.37% money market account? What would be a 2.37% 7- day yield? Does this mean there is a 2.37% increase of the account balance every 7 days?

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2 months ago

So what does 5k make in a months time in such a account?

Best Answer - Chosen by Voters

Yields are always annualized. They are required to calculate the yield daily over 7 days and average it so that unusual receipts on one day don%26#039;t let them advertise a huge yield that is not realistic to a longer term investor. 100% 1 Vote

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