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.
Annual percentage rate (APR) is similar to APY, but it does not take compounding into account. It is a simpler way of handling interest. Unfortunately, is APY more accurate than APR in some situations (because it tells you what a loan really costs as interest costs compound), but when you borrow money you typically only see the APR.