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2. APY: How To Calculate It (& Find the Best One for You) - AOL

   www.aol.com/apy-calculate-best-one-145700768.html

   You may notice if you’re shopping for a savings account that banks advertise both an interest rate and an annual percentage rate, or APY.

3. Want to beat inflation? Understand how APY works to ... - AOL

   www.aol.com/finance/want-beat-inflation...

   So if you wanted to put $3,000—with no additional deposits—into a high-yield savings account earning 2% that compounds monthly (12 periods within a year), the APY formula would look like this ...

4. What Is APY and How Does It Work? - AOL

   www.aol.com/apy-does-185233165.html

   For example, if you deposited $1,000 in an account with a 5.00% APY, you would earn $50 in interest. However, if the APY were compounded monthly, the effective rate would be 5.12%, and you would ...

5. How much money you could be missing out on with a low-APY ...

   www.aol.com/finance/much-money-could-missing-low...

   An account with $10,000 that pays 0.58 percent APY earns about $58 of interest in a year. In a high-yield savings account or money market account paying 5 percent APY, you’d earn around slightly ...

6. What is a high-yield savings account? Definition and what to ...

   www.aol.com/finance/high-yield-savings-account...

   An account’s APY indicates how much interest you earn in one year, taking compounding into account (unlike simple interest). Top-yielding savings accounts are paying upwards of 5 percent. What ...

7. How To Calculate Interest in a Savings Account - AOL

   www.aol.com/finance/calculate-interest-savings...

   The average savings account annual percentage yield in April 2023 is only 0.39%. This number includes low interest rates from traditional banks as well as higher savings rates from online banks and...