APY Calculator

Convert nominal APR to effective APY/AER and back.

Result

APY/AER5.116%

APY Calculator — FAQs

APR vs APY?

APR is nominal; APY/AER includes compounding. 5% APR monthly = 5.116% APY.

Why does APY matter on savings?

APY includes compounding — the honest comparison figure. 5% APR daily-compounded ≈ 5.127% APY.

APY vs APR on savings?

Banks advertise APY because it's the higher-looking number — it includes compounding. Compare savings products on APY, not nominal rate.

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