What is an apy interest rate
APY = 100 [(1 + r/n)^n] – 1 where r is the stated annual interest rate as a decimal, and n is the number of compounding periods per year.13 The carat ("^") means " What is APY? It's the total amount of interest you earn on a deposit account. APY is based on an account's interest rate, and it also factors in how often the 18 Feb 2019 When you deposit money in a bank account, your money will earn interest that is compounded with a certain frequency, such as daily or monthly.