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finance
APY Calculator
Calculate Annual Percentage Yield (APY) from a nominal interest rate and compounding frequency. Convert between APY and nominal rates. Compare savings accounts side by side with a visual chart.
%
$
months
Quick Facts
5% monthly APY5.12%
5% daily APY5.13%
APY vs APRAPY ≥ APR always
FDIC insurance limit$250,000
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How to Use This Calculator
- Choose a mode: Calculate APY or Compare Accounts.
- For single calculation: enter the nominal rate and compounding frequency.
- Optionally enter a deposit amount and term to see projected earnings.
- For comparison: add 2-3 accounts with their rates and compare APY side by side.
The Formula
APY = (1 + r/n)^n - 1, where r = nominal annual rate, n = compounding periods per year. Continuous: APY = e^r - 1. Reverse: r = n × ((1 + APY)^(1/n) - 1).Frequently Asked Questions
APR (Annual Percentage Rate) is the nominal rate without compounding. APY (Annual Percentage Yield) includes the effect of compounding. APY is always equal to or higher than APR. For savings, APY shows your true earnings; for loans, APR shows the base cost before compounding.