$7,500 CD vs. $7,500 high-yield savings account vs. $7,500 money market account: Which will earn more now?
The article compares the interest-earning potential of CDs, high-yield savings accounts, and money market accounts for a $7,500 deposit. It highlights that while CDs generally offer guaranteed returns, high-yield savings accounts may provide better interest in certain time frames. Savers should carefully evaluate their options based on their financial needs and access to funds.
- ▪A $7,500 deposit in a 1-year CD at 4.10% will earn $307.50.
- ▪High-yield savings accounts currently offer rates around 4.03%, potentially yielding $302.25 after one year.
- ▪Money market accounts have lower rates at 3.90%, earning $292.50 after one year.
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MoneyWatch: Managing Your Money $7,500 CD vs. $7,500 high-yield savings account vs. $7,500 money market account: Which will earn more now? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.
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