What is the full form of APY?
- on Jun 10, 2022
APY stands for Annual Percentage Yield.
|Full Form||Annual Percentage Yield|
|Category||Business » Finance|
What is APY?
Annual Percentage Yield is a term used in banking to describe the rate of interest that is offered on a loan.
The Annual Percentage Yield on a loan is the total amount of interest that is owed over the course of a year, divided by the amount of the loan. For example, if someone borrows $10,000 with an annual percentage yield of 8%, they will owe $80 in interest each month.