Making Sense of Dollars and Cents.
It's hard to make sense of the difference between APR and APY. Below is a simple guide to some common financial terms.
To voluntarily give up a claim or right.
The annual rate of return on an investment, expressed as a percentage, that projects the total amount of interest/interest paid on funds deposited in an account, assuming all funds initially deposited remain in the account for a full year or for the full term of a timed account.