annual percentage yield
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.com, 1 Apr. 2010 —abbreviation APY
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First Known Use of annual percentage yield
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