Are you sure? I thought with an APY of 4.15% on one grand, you would get $41.50, making the APR slightly less than 4.15%. The APY takes the compounding interest into account, while the APR does not. I could be wrong.

Doesn't APR stand for Annual Percentage Rate? take APR divide by 12 you get ~.35% time that to 1000 and you get something like $3.50 for month 1 then in Month 2 your time $1003.50 by ~.35% and so on and it gets a little over $42.

then again I guess the APY and APR are two different things so you could be correct

I could be completely wrong, but I when I use an APR of 4.15% on 1k over a year I get 42.30 in interest over one year (like you said). So the APR is 4.15% and the APY is 4.23%.

Someone settle this, its gnawing at my brain.

This is correct assuming that 4.15% is the Annual Percentage RATE if it is the Annual Percentage Yield then the APR would be lower (like you said)

I'm not sure exactly how the numbers work on that money market account. A $1,000 deposit is required to start the account. From there, I get about one dollar a month for every $280 that is in the money market account.

Not bad work for idle money.

EmigrantDirect.com doesn't have a signup or a referal bonus but it does have a 4.5% interest rate and no minimum initial(or subsequent) deposit amount and no fees.