Question: Identify a correct statement about the annual percentage yield ( APY ) . Multiple choice question. It is a commonly stated annual rate of return

Identify a correct statement about the annual percentage yield (APY).
Multiple choice question.
It is a commonly stated annual rate of return for investments and saving accounts.
It is often stated as the annual interest rate for credit cards, loans, and house mortgages.
It is the same as the compound interest rate.
It is the same as the nominal interest rate.

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