APY Calculator
Have a high yield savings account? Estimate how much you can earn through depositing money into the account and letting it grow.
What is APY?
APY stands for annual percentage yield. It is the total amount of interest you will earn on a deposit account over one year, including compound interest. APY is calculated by taking into account the interest rate and the frequency of compounding.
APY can be important to consider when comparing different banking accounts. Higher APY means more interest earned on your money, which can help your money grow faster.
There are many types of accounts that offer APY, such as high-yield savings accounts or certificates of deposit (CDs). These accounts typically offer higher APY than traditional savings accounts.
Where to find higher APY?
Typically, a chequing account will have a lower APY compared to a traditional savings account. High-yield savings accounts and CDs are known to offer higher APY.
I personally use SoFi Bank. They have a competitive APY on their savings accounts, along with other modern features! If you're interested, you can open an account with my referral link below.
What is Public Tools?
Public tools is a collection of tools and helpers that I wish existed. These are the things that I end up Googling every time
Ranging between finance, development, and productivity, these tools are a modern take on the classic utility belt that every developer should have!
This is also an opportunity for me to work with the latest web technologies :P