A stated rate (APR) and its true yearly yield (APY) differ once compounding is counted. Convert either way.
Rates
%
%
Edit APR or APY, the other updates automatically.
Effective yield
APY
0%
APY = (1 + APR ÷ n)^n − 1, where n is the number of compounding periods per year. Deposits quote APY (higher looks better); loans quote APR (lower looks better), same math, opposite incentive.