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Headlines & Perspectives
Savings 101: Understanding APR vs. APY
By BankingMyWay.com
02/09/09 - 04:41 PM EST
Interest rates play an important role when deciding where to borrow or invest your money. But interest rates often show up in two ways: an annual percentage rate (APR) and an annual percentage yield (APY). Not sure what means what? Here's the difference between the two and how they're typically used.

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