APY Explained: Why It’s Higher Than Your Interest Rate
APY reveals what your savings can earn after compounding — not just the advertised interest rate. Here’s how a 5% rate can become a 5.12% APY. Learn what annual percentage yield means, how interest earns interest, and why APY helps you compare savings accounts more fairly. Do you check the APY or just the interest rate? Comment below. For educational purposes only; rates and returns can change. #APY #SavingsAccounts #PersonalFinance
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