APY means Annual Percentage Yield. This is actually your return on investment after your interest is compounded. Compounding is when you earn interest off of your interest, for example if your money is compounding every month, each month your earnings plus interest from previous month are added together to make a new number. Now this new bigger number is new starting amount from where you start earning for the next month.
But what if interest is paid on irregular basis, such as once in trimester or at the end of each day? You’ll need APY Calculator to calculate Annual Percentage Yield for a given period.
Use our online calculator to calculate how much interest is accumulated and your APY.
Use our user-friendly free calculator to calculate how much interest you may earn on a deposit account.