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Non-Tech : Figure the True Commission
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To: Richard James who wrote (2)5/7/1999 9:15:00 PM
From: Richard James   of 6
 
Sutetrade pays 1.5% per annum on cash balances. Datek is
3.19%. Many brokers offer cash management accounts in which
cash is automatically deposited. You may usually choose one of
several funds in which your CMA balance is invested. Typical
examples may be a money market, bond fund, or stock index fund.
I believe Fidelity's money market fund, cash reserves current 7
day yield is 4.62%. 1.5%/3.19%/4.62%. What is your effective
cost of doing business with your broker?
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