ELI5: How do high yield savings accounts work? What is APR & APY, and how does compounding quarterly vs monthly vs yearly affect the amount earned? If you open one, how often are there payouts? Submitted by mkhrrs89 t3_11xo4gb on March 21, 2023 at 5:36 PM in explainlikeimfive 13 comments 3
[deleted] t1_jd46vpf wrote on March 21, 2023 at 6:37 PM Reply to comment by RodeoBob in ELI5: How do high yield savings accounts work? What is APR & APY, and how does compounding quarterly vs monthly vs yearly affect the amount earned? If you open one, how often are there payouts? by mkhrrs89 [deleted] Permalink Parent 1
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