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How is interest on my AAA Money Market Account calculated?

April 26, 2017AAA account calculated Money Market

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How is interest on my AAA Money Market Account calculated?

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We use the daily balance method to calculate interest. This method applies a daily periodic rate to the amount of principal plus accrued interest in the account each day. Interest begins to accrue on the effective posting date of your deposit. It is compounded on a daily basis and credited to your account on a monthly basis.