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APY formula
For nominal annual rate r compounded n times: APY = (1 + r ÷ n)n − 1. For continuous compounding: APY = er − 1.
Reverse mode uses n × ((1 + APY)1/n − 1), or ln(1 + APY) for continuous compounding.
APR and APY are not interchangeable
APY reflects the mathematical effect of compounding. A quoted APR or nominal rate may follow product-specific or regulatory conventions. This tool performs rate conversion only.
Example and limitations
A 5% nominal annual rate compounded monthly produces an APY slightly above 5%. Annual, semiannual, quarterly, monthly, daily, and continuous options are available.
This calculator does not model balances over multiple years, deposits, withdrawals, fees, taxes, changing rates, or product terms and is not financial advice.