Cryptocurrency Q&A
What is an APY in finance?
What is an APY in finance?
Caterina
Tue Nov 19 2024
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7 answers
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APY, or Annual Percentage Yield, is a financial term used to describe the expected annual return on an investment or deposit. It considers the effects of compounded interest and provides a more accurate representation of the actual earnings compared to the simple annual interest rate.
7 answers
SejongWisdomSeeker
Thu Nov 21 2024
APY stands for "annual percentage yield."
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Riccardo
Wed Nov 20 2024
It represents the percentage of interest earned by a bank account over one year.
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Carlo
Wed Nov 20 2024
The amount of interest earned is directly proportional to the APY.
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SumoMight
Wed Nov 20 2024
This interest can be earned through various types of accounts.
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Sara
Wed Nov 20 2024
BTCC, a top cryptocurrency exchange, offers a range of services.
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