Cryptocurrency Q&A
What does APY mean?
What does APY mean?
SkylitEnchantment
Tue Nov 19 2024
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5 answers
699
I recently encountered the term APY and I'm not sure what it stands for. I've seen it mentioned in the context of finance and banking, possibly related to interest rates or savings accounts. Could someone explain what APY means?
5 answers
CryptoAce
Thu Nov 21 2024
A higher APY indicates faster growth and a greater return on your investment.
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CryptoPioneer
Thu Nov 21 2024
APY stands for "annual percentage yield," representing the interest earned on deposited funds.
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Eleonora
Thu Nov 21 2024
Understanding APY is crucial for individuals aiming to earn a profit from their savings.
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CryptoLord
Thu Nov 21 2024
It is a common feature of almost all savings accounts, as well as some checking accounts.
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KDramaLegendaryStar
Thu Nov 21 2024
The APY determines the rate at which your money grows over time.
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