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BVC #6 – Compounding Interest, APR & APY [VIDEO]

I received an email earlier this week from Tomas, asking what daily compounding meant, and I thought it would best be answered with a video post. The video discusses, in very basic terms, what compounding is as well as two common acronyms you see when talking interest rates: APR and APY.

I created an APR to APY (and back) Calculator [3] a while back and it makes it easy to compute the two.

Please let me know what you think!