What is the full form of APY?

APY stands for Annual Percentage Yield.

Short Form APY
Full Form Annual Percentage Yield
Category Business » Finance
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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.