CD+Terms

Definitions:

**What is APY?** Annual percentage yield (APY) is a tool for evaluating how much a deposit earns you. Why would you look at an account’s APY? Because it is a standardized way of comparing investments. Your job as a consumer is to put your money where it will get the highest APY. As the name suggests, APY is the yield you earn on a deposit over a year. It refers to your earnings – how much money you’re making. Because we all want our money to work for us and grow, it is important to get a good APY from the bank.

APY is notable because it takes compounding into account. In very simple terms, compounding means making earnings ////on ////  your earnings. This means that the quoted APY is telling you how much you’re ////really //// making on your money. Other ways of quoting a rate don’t necessarily show you the whole picture. 
 * What is Unique About APY? ****