Quick financial question

[phildapimp89 10+ year member]

I have about a grand that I'm thinking I might drop into Paypal's money market fund, which is currently offering 4-4.50% 7 day average yield.

Besides the fact that paypal can lock your account whenever they feel and gain interest on it, what exactly is a 7 day average yield.

Stupid question.

Does this mean I'm literally making 4-4.50% every week on my money? I'm guessing its not....

I don't have any idea, and the question just popped up in my head and nobody is around to answer it for me.

Thanks.

By the way, IM NOT saying I'm going to use Paypal, I have a few other ideas.

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[Phatillusion 5,000+ posts]

I'd stay away from paypal.

 

[AcidicDreams 10+ year member]

I have about a grand that I'm thinking I might drop into Paypal's money market fund, which is currently offering 4-4.50% 7 day average yield.
Besides the fact that paypal can lock your account whenever they feel and gain interest on it, what exactly is a 7 day average yield.

Does this mean I'm literally making 4-4.50% every week on my money? I'm guessing its not....

I don't have any idea, and the question just popped up in my head and nobody is around to answer it for me.

Thanks.

By the way, IM NOT saying I'm going to use Paypal, I have a few other ideas.

No you won't make 4-4.5 a week or everyone in ther world would do it... 4-4.5/year is more along the lines of "normal" rates...

Why is everyone asking financial questions on a audio forum anyways?

Also I'm saving for the IPO of AGEIA.... G/L with your investments

 

[phildapimp89 10+ year member]

Yeah I figured not, thanks for clearing that up without flaming me.

 

[Jameseypoo 5,000+ posts]

I'm signed up for it and no matter how much i have in it they just throw some extra change in my account every month. When I have a $0 balance, I get like $0.09....... when I have a balance of $1,100 I get like $0.09 deposited too...... it doesn't make any sense to me.