Is APR or APY better?
APY takes this compound interest into account to show you how much you may pay or earn. Since loans and investments may compound interest more often than once a year, APY is typically higher than APR.
still, How much interest will I get on $1000 a year in a savings account?
How much interest can you earn on $1,000? If you’re able to put away a bigger chunk of money, you’ll earn more interest.
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