APY
APY stands for "Annual Percentage Yield." It is a standardized measure used to indicate the total amount of interest that will be earned on a deposit account, such as a savings account, over the course of a year. The APY takes into account the interest rate and the frequency of compounding, which is the process of earning interest on the interest that has already been earned. The APY is expressed as a percentage and represents the total return on the deposit account over the course of a year, including both the interest rate and the effects of compounding. It is important to note that the APY does not take into account any fees or other charges associated with the deposit account, and may therefore not reflect the actual amount of money that the account holder will earn over the course of a year.