Multiple choice

The stated interest rate on an account is referred to as what? 

  1. Annual Percentage Yield (APY)

  2. Annual Yearly Progress (AYP)

  3. Semi Annual Rate (SAR)

  4. Original Posted Interest (OPI)

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Annual Percentage Yield (APY) is the real rate of return earned on a savings deposit, taking into account the effect of compounding interest over a year.