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What is Annual Percentage Yield mean?
Annual percentage yield (APY) is a normalized representation of an interest rate, based on a compounding period of one year. APY figures allow a reasonable, single-point comparison of different offerings with varying compounding schedules. However, it does not account for the possibility of account fees affecting the net gain. APY generally refers to the rate paid to a depositor by a financial institution, while the analogous annual percentage rate (APR) refers to the rate paid to a financial institution by a borrower.
To promote financial products that do not involve debt, banks and other firms will often quote the APY (as opposed to the APR because the APY represents the customer receiving a higher return at the end of the term). For example, a CD that has a 4.65% APR, compounded monthly, would instead be quoted as a 4.75% APY.
reference| Full Form | Category |
|---|---|
| Alto Parnaiba | Airport Code |
| Annual Percentage Yield | Banking |
| APY.Finance | Cryptocurrency |
| अटल पेंशन योजना | Governmental |
| Aṉangu Pitjantjatjara Yankunytjatjara | Regional |
Posted on 25 Nov 2024, this text provides information on Miscellaneous in Banking related to Banking. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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