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How much interest can someone make if they have 6 million dollars spread around on a CD account on monthly basis?

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dross1958

Why in the world would someone who had 6 million dollars be keeping their money in a CD ? Interest rates are so low, that between taxes and inflation and the rising cost of living, you would be losing money monthly.

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This would depend on the rate of return on each CD.

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Let's say that each CD would have a 3% interest rate and the 6 million dollars would each be broken down to 250k because that's what the FDIC covers what am looking at monthly.?
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This depends entirely on the return rate of the CD. Different banks will offer different CD's with different rates. These rates are also subject to change with the current economical climate. If you have 6 million dollars ready to invest, there are better options than a CD. I suggest finding a financial consultant. Good Luck!

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