Cryptocurrency Q&A
What is 5.00% APY?
What is 5.00% APY?
SamuraiCourageous
Sun Nov 17 2024
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6 answers
1723
I came across the term '5.00% APY' while researching bank accounts. I'm not sure what it means and would like to understand how it affects my savings.
6 answers
ZenMindfulness
Tue Nov 19 2024
With this setup, after one year, the earnings would amount to $500, which represents 5% of the initial $10,000 deposit.
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CryptoNerd
Tue Nov 19 2024
BTCC, a prominent cryptocurrency exchange, provides a range of services that cater to users' various needs. Among these services are spot trading, futures trading, and wallet solutions.
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CryptoNinja
Tue Nov 19 2024
This calculation is straightforward: 5% of $10,000 equals $501.
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JejuJoyfulHeartSoulMate
Tue Nov 19 2024
Consequently, at the end of the first year, the total balance in the account would be $10,501.
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SumoStrength
Tue Nov 19 2024
Envision depositing $10,000 into an account that offers a 5% annual percentage yield (APY), compounded annually.
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