Learn More - Click Here!

Thread Options
#868300 - 12/06/07 10:33 PM figuring APR when I have the APY
RobynMartin1969 Offline
New Poster
Joined: Aug 2007
Posts: 5
How do I figure the APR if I am given the APY?

Return to Top
Operations Compliance
#868470 - 12/07/07 04:52 AM Re: figuring APR when I have the APY RobynMartin1969
Jokerman Offline
10K Club
Joined: Nov 2003
Posts: 12,846
I don't know, but that would be a very good trick! My truck is blue - how fast am I going?!

Ok, sorry - had to joke a bit. APR stands for "annual percentage rate" and is used to allow borrowers to compare the cost of credit. APY is "annual percentage yield" and is for a similar purpose on deposits. You probably meant to ask how to figure the rate on a deposit if you know the APY - you'll also need to know the term and compounding frequency. Your deposit system probably has a calculator - if not, you can back into it using the OCC's APY calculator.

Return to Top

Moderator:  Andy_Z, John Burnett