apy vs interest rate: do they mean the same thing?

May i ask the difference between annual percentage yield (apy) and interest rate on an account, do they refer to the same metric? Thanks

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@paul_petit - 2 months ago

No, they don't. Interest rate on your account is simply a figure showing the interest you will earn annually while the APY is a projection of the monthly interest plus compound interest you will earn on the account for a period of one year if you don't make any withdrawal from the account.