Michele
Tue Nov 19 2024
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6 answers
1503
How does APY pay monthly?
I would like to understand how APY works when it comes to monthly payments. Specifically, I want to know how the annual percentage yield is applied or calculated for monthly payouts.
Elena
Sun Aug 18 2024
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6 answers
1188
How do APRS affect how much interest you pay?
Could you elaborate on how APY, or Annual Percentage Yield, impacts the total amount of interest that one pays on their investments or loans? I'm particularly interested in understanding the mathematical relationship between APY and the interest accrual process, and how variations in APY can significantly alter the final balance over time. How does it differ from simple interest calculations, and what factors should one consider when comparing APYs across different financial products?
