The ________ converts interest rates compounded for different periods into comparable annual rates,allowing you to compare interest rates easily.

Question

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APY (Annual Percentage Yield) is the financial tool that converts interest rates compounded for different periods into comparable annual rates, allowing for easier comparison of interest rates. APR (Annual Percentage Rate) is a similar concept but does not account for compounding periods. YTD (Year-to-Date) and YAY (Yearly Average Yield) are not relevant in this context.

The ________ Converts Interest Rates Compounded for Different Periods into Comparable