annual percentage yield

noun

Definition of annual percentage yield

:a measurement of an account’s interest rate based upon the interest that accrues on the account balance after a period of one year
  • Bankrate, which surveyed 211 banks and credit unions nationwide, found that 58 of the financial institutions offer such accounts with an average annual percentage yield of 3.3 percent.
  • —Jennifer Saranow Schultz, NYTimes.com1 Apr. 2010
abbreviation APY

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First Known Use of annual percentage yield

1969


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