How to Find an APY Without Having an Interest Rate?

Answer APY stands for annual percentage rate. The APY represents the effective interest rate percentage per year earned on bank accounts and loans after accounting for interest compounding. If interest on... Read More »

Top Q&A For: How to Find an APY Without Having an Interest Rate

How to Find the Interest Rate on a Bond?

A bond is effectively a private way to get a loan. Many companies use bonds to raise capital. The company gives the bond a par value, which is the face value of the bond, and the interest payment w... Read More »

How To Find the Interest Rate for Debt Financing?

If you need to have a purchase financed, find out what the interest rate will be. This will be the actual cost of borrowing the money. The higher your rate, the more you will pay in finance charges... Read More »

How To Replace a High Interest Rate Credit Card With a Low Interest Rate Card?

Many consumers sign up for a specific credit card because they were offered an attractive introductory interest rate. The problem with introductory rates is that they eventually increase. Before yo... Read More »

Is credit card interest tied to the prime interest rate?

According to the Federal Reserve, some variable-rate credit cards base their interest rate on the prime interest rate. However, other rates can also be used, such as the Treasury bill rate.Source:F... Read More »