$30,000 CD vs. $30,000 high-yield savings account vs. $30,000 money market account: Which will earn more interest?

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$30,000 CD vs. $30,000 high-yield savings account vs. $30,000 money market account: Which will earn more interest?

The interest-earning potential of CDs, high-yield savings and money market accounts may look similar but it won't be identical. …

The interest-earning potential of CDs, high-yield savings and money market accounts may look similar but it won't be identical. /iStockphoto Saving a sizable amount of money can feel incredibly difficult. But there has been one component that's helped lift some of that burden from savers in recent years – high interest rates on select savings accounts. While an elevated interest rate landscape hurts borrowers, it also can serve as a boon for savers, many of whom have taken advantage in recent years via accounts with rates as high as 6% or 7%. So, if you have thousands or tens of thousands of dollars in a traditional savings account, there are still viable alternative homes in which to keep it. And if you have a five-figure amount such as $30,000, the interest-earning potential can be substantial, especially accounting for compounding interest . That said, while there may be three primary account types in which to keep this money, the interest-earning potential will vary. That's because certificate of deposit (CD) accounts have different rates than high-yield savings accounts , which, in turn, have different rates than money market accounts . To best determine which account makes the most sense for your $30,000, then, it helps to know which of these three will earn the most interest if opened right now. Below, we'll crunch the numbers that savers should know before making a deposit. See how much interest you could be earning with a CD account here . $30,000 CD vs. …

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