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Annual Interest Rate

The annual interest rate is the interest rate on a deposit account before it’s compounded. Once the annual interest rate is compounded, it becomes the annual percentage yield (APY). You…

The annual interest rate is the interest rate on a deposit account before it’s compounded. Once the annual interest rate is compounded, it becomes the annual percentage yield (APY). You can use your best guess on the annual interest rate or find the annual interest on your bank or credit union’s website.