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Cryptocurrency Q&A How to convert APY to interest rate?

How to convert APY to interest rate?

Stefano Stefano Tue Nov 19 2024 | 5 answers 1542
I want to understand how to convert Annual Percentage Yield (APY) to a simple interest rate. I'm looking for a clear explanation or a formula that can help me make this conversion. How to convert APY to interest rate?
apy convert interest rate

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