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The American Heritage Dictionary of Business Terms » annual percentage yield (APY)
annual percentage yield (APY)
annual percentage yield (APY) definition - business
annual percentage yield (APY)
The effective return, expressed as a percentage, earned on a deposit account. APY takes into account the effect of compounding and indicates the amount of interest a depositor will earn during a year assuming no withdrawals or additional deposits occur.
The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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