Hisrich (1990) defined that an entrepreneur is characterized as âsomeone who demonstrates initiative and creative thinking, is able to organize social and economic mechanisms to turn resources and situations to practical account, and accepts risk and failureâ.
APY, or annual percentage yield, is a term that applies to deposit accounts. APY is a percentage rate reflecting the total amount of interest paid on an account, based on the interest rate and the frequency of compounding for a 365-day period.
When you compare APR vs. APY, you should know that when people talk about saving money, they commonly use the term APR when referring to the periodic interest rate the bank pays you. That's actually not quite correct.