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Originally Posted by Stick It In Him
I could be completely wrong, but I when I use an APR of 4.15% on 1k over a year I get 42.30 in interest over one year (like you said). So the APR is 4.15% and the APY is 4.23%.
Someone settle this, its gnawing at my brain.
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This is correct assuming that 4.15% is the Annual Percentage RATE if it is the Annual Percentage Yield then the APR would be lower (like you said)