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how does ing interest work?

S

Semidevil

Diamond Member
I never paid attention to it, but I just wonder when they say 3%.....is it 3% per year? so If I have an 800 balance in my account, is it 3% of 800 into my account?

is it compounded monthly? quarterly? etc etc
 
APY = annual percentage yield = amount of increase after leaving the money and all interest earned in the account for one year. That is, it includes all compounding.
 
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