How to Figure APY?

#Finance

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APY = Annual Percentage Yield

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Use the formula: APY = (1 + r/n)^n - 1

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r = nominal annual interest rate as a decimal

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n = number of compounding periods per year

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Convert the result to a percentage by multiplying by 100

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Example: if r = 0.05 and n = 12, APY = (1 + 0.05/12)^12 - 1

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Example result: APY = 5.12%

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If interest compounds continuously, use: APY = e^r - 1

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To compare accounts, use the APY value, not just the stated interest rate

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