tag:blogger.com,1999:blog-9026484337051027793.post430858669258715938..comments2009-06-12T12:15:36.005-04:00Comments on Saving to Inve$t: High Yield, Money Market Account Savings and Mortg...Andyhttp://www.blogger.com/profile/14309605333128481208andy@savingtoinvest.comBlogger1125tag:blogger.com,1999:blog-9026484337051027793.post-83003438630058627602009-06-12T12:15:36.005-04:002009-06-12T12:15:36.005-04:00On the issue of compounding, banks are supposed to...On the issue of compounding, banks are <i>supposed</i> to express their interest rate as an annual percentage yield (APY). The APY already accounts for the frequency of compounding, so readers should shop around for the best APY without regard to whether interest is compounded daily, monthly, or quarterly.<br /><br />See my blog for more information, and for an interesting discussion on what would happen if interest was <a href="http://pfstock.blogspot.com/2007/07/interest-compounded-continuously.html" rel="nofollow">compounded continuously</a>.pfstockhttp://www.blogger.com/profile/16235204038486228085noreply@blogger.com