Understanding Interest Rate and APY – Deposit Accounts – Understanding Interest Rate and APY. Comments (58) Post a Comment.. A simple explanation to your question is that the one that pays the highest $ is the one that pays the highest annual percentage yield (APY) regardless of the frequency of the compounding. Reply. 5.
How to Calculate the Percentage of Simple Interest | Pocketsense – Use the percentage of simple interest for a single day as the basis for finding the rate for periods other than monthly. Find the daily rate by dividing the annual rate by 365 (the number of days in one year).
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