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.
The APY is 1.0%âthe same as the interest rate. Now suppose the interest on that account compounds daily, as it does with Ally Bank accounts. The total interest you would be paid for the year is $10.05, for a total value of $1010.05 at the end of the year.