The Difference Between Annual Percentage Rate (APR) and Annual Percentage Yield (APY) Explained
[sniplet facebook reposts] Quite a number of readers had written in asking me to explain the difference between APR and APY. APR = Annual Percentage Rate. Think of this as simple interest. APY = Annual Percentage Yield. Think of this as compound interest. APR and APY explain why your Fixed Deposit certificate quotes an interest […]