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What is the difference between APR and APY?

April 24, 2009 - 3:05am | Analytics | Articles
What is the difference between APR and APY?

When you are looking for a lucrative savings account or any other form of investing, what terms and features do you use as a starting point to compare the offers? I am sure that most people will judge deals by its interest rate. However, these figures can be reflected either as APR (annual percentage rate) or APY (annual percentage yield). What is the difference between them? 
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APR | APY | balance | CD | compounding | credit cards | interest rates | loans | savings account
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