Cryptocurrency Q&A What is 4% APY on $1000?

What is 4% APY on $1000?

BlockchainLegend Fri Sep 20 2024 | 1 answers 204

Excuse me, could you please clarify what 4% APY means on an investment of $1000? I'm trying to understand how much interest I would earn if I were to invest that amount at that rate. Specifically, how is the interest calculated and what is the total amount I would receive after a year? What is 4% APY on $1000?

What is 4% APY on $1000?

4% apy $1000 interest rate

1 answers

CherryBlossomPetal Sun Sep 22 2024

This method is straightforward and easy to understand, but it doesn't take into account the power of compounding.

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