RE: APR for HBD in Savings Dropped to 19% for a Short While. Want to know why?
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If you claim the interest every 30 days, you will get the compound interest rate, while you wait for 1 year, you will not get the compound rate for the whole year.
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That is true. At 20%, if you compound monthly, it's roughly 22% APY. If you leave it for a year, it's still 20% (if the rate doesn't drop in between).