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How APY Works

FirstConvenienceBank
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How APY Works

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  1. How APY Works APY File Annual Percentage Yield (APY) is a figure that indicates the total amount of interest you earn on your deposits over the year. APY includes factors such as the interest rate and the frequency of compounding interest (interest on principal & earnings). The APY is calculated by a mathematical formula that includes the annual interest rate and the number of compounding periods per year. Earlier withdrawal of funds can reduce the earnings by reducing the APY. APY standardizes the rate of return by stating the real percentage of growth that will be earned in compound interest. First National Bank Texas/First Convenience Bank 133 Arkansas Blvd. Texarkana, AR 71854 3509 E Race Avenue Searcy, AR 72143 1815 E. Highland Drive Jonesboro, AR 72401 2875 W. Martin Luther King Fayetteville, AR 72704 304 S. Rockwood Drive Cabot, AR 72023 www.1stnb.com Images Source: Designed by Freepik All loans and collateral subject to approval First National Bank Texas | NMLS #402924 | Member FDIC | Equal Housing Lender

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