With interest rates on savings accounts and bank CDs at long term lows, it’s important for savers to make sure they’re getting as much as possible on their accounts. But it can be difficult to figure out which account pays the highest effective rate, since there are different ways to compound interest, as well as different deposit terms for things like bank CDs. This is why it’s important to know the “Annual Percentage Yield” (or “APY”) for each type of account.
What is APY? Annual Percentage Yield is a way of calculating a standardized rate that enables savers to compare... Articles Tagged ‘What is APY’
What is APY?
With interest rates on savings accounts and bank CDs at long term lows, it’s important for savers to make sure they’re getting as much as possible on their accounts. But it can be difficult to figure out which account pays the highest effective rate, since there are different ways to compound interest, as well as different deposit terms for things like bank CDs. This is why it’s important to know the “Annual Percentage Yield” (or “APY”) for each type of account.
What is APY? Annual Percentage Yield is a way of calculating a standardized rate that enables savers to compare...
Wednesday, January 30th, 2013
With interest rates on savings accounts and bank CDs at long term lows, it’s important for savers to make sure they’re getting as much as possible on their accounts. But it can be difficult to figure out which account pays the highest effective rate, since there are different ways to compound interest, as well as different deposit terms for things like bank CDs. This is why it’s important to know the “Annual Percentage Yield” (or “APY”) for each type of account.
What is APY? Annual Percentage Yield is a way of calculating a standardized rate that enables savers to compare... 
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