#341: Money market rates - How to calculate money market interest
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Reporter: moneymarketrates6 | Owner: vadim
Type: defect | Status: new
Priority: major | Milestone: QuteCom 3.0
Component: 3rd party libs | Version: 3.0
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[[Image(https://lh4.googleusercontent.com/-tbJo_7OBrcs/TyOri8y1EAI/AAAAAAAAASw/Dhwj1BJ7xYM/s680/d10.jpg)]]
'''Money market accounts''' of deposit provide a higher yield as compare
to real savings accounts. Money market accounts of money deposits also
get Insurance coverage of national deposits while the bank gets ended. In
the replace for the higher [http://www.ratelines.com/money-market-rates/
money market rates], typically banks demands the account holder to
assemble higher minimal account balances in order to ignore higher account
charges. While calculating the rates of interest made in to the account,
first you have to be experienced that how much the amount you invest,
rates of interest, time duration of money stayed in the account and how
rates of interest gets combined.
[[Image(https://lh4.googleusercontent.com/-ecnSKWiBxmY/TyOrjYcr7YI/AAAAAAAAAS8/yKlIII3nBfE/s225/d11.jpg)]]
First, divide the interest rates on yearly basis presented in the money
market account by the total numbers when [http://www.ratelines.com/money-
market-rates/ money market rates] are combined to get the whole periodic
rates. By this you can get the exact amount of periodic rates, divide this
amount by 100 to get periodic rates in a decimal form. Multiply the answer
by the total amount of money that insert in to the money '''market
account''' to determine the exact value of amount after the periodic time.
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