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Im looking into origin a savings account with bank of america. On the website it says that the nominal interest is 0.1% compounded daily and paid monthly. the APY is 0.1%.
At first scintillation I thought that I would get a 0.1% return
The appraise is "Annual Percentage Yield" with annual meaning yearly. It already has the compounding bewitched into consideration. The difference between nominal and compounded isn't significant when rates are this close to zero.
Ted | Feb 06, 2010
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Dam | Feb 06, 2010
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