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Help me calculate interest and/or what am I missing?
I dumped $3k into VG's Prime Money Mkt. on 5/16, I think?
On 5/30, they supposedly paid a dividend of 0.00435/per share (per $1).
My balance shows up as $3005.90 on 6/2.
What gives?
By my calculation it should be 3000 * .00435 = $13.05
I didn't think it mattered what your balance was throughout the month, just what it was on 5/31, or their record date. But, since I had it in for approx. a half of a month, I guess I understand that they only paid about a 1/2 mo. of interest. But, playing with the days or many other variables, I can't come up with that $5.90.
Simple, yet hard. Explain it to me, please.
-CC
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