[FightforFreedomCA]

Question for people smarter than me... how do I figure out the monthly dividend if I were to open a Money Market acct with the following terms:

Money - 42K
APY - 0.60%
Rate - 0.60%
Dividends Paid - Monthly

I looked for a calculator online, but could not find one.
thanks in advance for any help.

[Zeddicus]

Briefly:

0.6% apy = 0.05% / month

0.0005 X 42,000 = $21

Your 42k won’t even yield enough to fill your gas tank once a month.

[Snardius]

0.60% isn’t worth your time even if you reinvest the dividend...

[GregoryFul]

Buy British Petroleum (BP ticker). 5.6% yield, capital backed by good resources (oil reserves & company). A $42k investment would give you $196 per month. Or put half in BP and half in Bristol-Myers (BMY), paying 5% yield for $186 per month. A nice yielding investment I've been in for a year or so now is Winstream, (WIN) paying 9.1% (42k gives you $319 per month. Perhaps Altria (MO) paying 6.8% gives you $238 /month. Even lowly Verizon (VZ) will give you a 6% yield.

There are a number of federal tax free municipal bond funds that yield between 4.5 and 6% - with no federal tax - and they pay monthly dividends (MNP, NPY, DMF).

Don't accept 0.6% yield!

[Osage Orange]

$3K a month.

-Barack Hussein Obama