\title{Using Mathematics to Understand Our World}

Oct 11, 2003 · Remark Normally when a bank lists interest rates for savings accounts, they list two numbers- the regular interest rate (or nominal rate) and the APY. APY stands for annual percentage yield and is the percentage increase of the principal in a year's time. Normally, unless the interest is compounded only annually, the APY is a bit larger than ... ................
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