The Annual percentage yield (APY) reflecting the total amount of interest paid on __: 1. Current Account 2. Saving Account 3. Certificates of Deposits Which among the above is / are correct?
[B]Only 2 & 3
[D]1, 2 & 3
Only 2 & 3
Annual percentage yield (APY) is a percentage rate reflecting the total amount of interest paid on a deposit account (savings, CDs etc.), based on the interest rate and the effect of interest compounding for one year.