For the same yield, why is the APY higher than the APR?
The same pool is usually shown with a higher APY than APR, so when comparing two products, first make sure you’re comparing them on the same basis.
For example, an APR of 10% compounded daily (n = 365) works out to an APY of about 10.52%.
I didn’t understand this before, and the lesson cost me enough to pay for several hot pot meals.
Don’t rush into action just because everyone else is buying.
$CAKE 2.316（-0.39%）
#CAKE
The same pool is usually shown with a higher APY than APR, so when comparing two products, first make sure you’re comparing them on the same basis.
For example, an APR of 10% compounded daily (n = 365) works out to an APY of about 10.52%.
I didn’t understand this before, and the lesson cost me enough to pay for several hot pot meals.
Don’t rush into action just because everyone else is buying.
$CAKE 2.316（-0.39%）
#CAKE