http://www.thewisdomjournal.com/Blog/it-pays-to-know-the-difference-between-apr-and-apy/ Wise Choices. Improved Finances. A Better Life. Sun, 05 Feb 2012 12:01:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.thewisdomjournal.com/Blog/it-pays-to-know-the-difference-between-apr-and-apy/comment-page-1/#comment-7404 Brian Thu, 09 Oct 2008 20:45:39 +0000 http://www.thewisdomjournal.com/Blog/?p=417#comment-7404 I was completely confused by your example because (1.00060247)365 - 1 = 24.587 doesn't make sense. I was going to ask you to clarify, but after re-reading your description a couple of times I figured out that you meant 1.00060247^365 -1 = 24.587. I was completely confused by your example because (1.00060247)365 – 1 = 24.587 doesn’t make sense. I was going to ask you to clarify, but after re-reading your description a couple of times I figured out that you meant 1.00060247^365 -1 = 24.587.

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