Consider melting or smelting your gold, silver, and other metals yourself! But first understand that there is a big difference between melting and smelting. Melting means to change something from a solid to a liquid by the application of heat. When the heat is removed, the melted material returns to its solid state.
Community Q&A. Annual percentage yield (APY) represents the rate of interest on a certificate of deposit, savings account or other investment. Typically annual percentage yield is calculated for accounts receiving compounded interest rather than a simple interest reflecting the nominal (official) interest.rate. One use of APY is to compare the potential incomes from different investment opportunities.
But what exactly does APY mean, and how is it calculated? APY refers to how much money you earn on a deposit over a year, taking into account compounding interest. For example, if you put $1,000 into an account for one year at 1.0% non-compounding, or simple interest, you will have $1,010 at the end of the year. 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. In this case, the APY is 1.005%.