What is APY? This metric allows holders of deposit accounts to accurately understand the amount of interest income that will be generated by their account.

As the year enters its final week, savings rates are holding steady -- for now. Many high-yield savings accounts (HYSAs) are still paying between 4.00% and 5.00% APY now. But the pace is slowing.

APY, or Annual Percentage Yield, is an important term to understand if you want to maximize your money’s growth potential. It measures the interest earned on a financial product or account over one ...