Apy

Apy or APY may refer to:

Łapy

Łapy [ˈwapɨ] is a town in north-eastern Poland, in Białystok County (powiat), Podlaskie Voivodeship; the administrative centre of the urban-rural gmina Łapy. It is situated in the North Podlasie Lowland, on the river Narew.

According to data from 31 December 2010, the town had 16,049 inhabitants.

Situated here are the bankrupt Railway Fleet Repair Works, a dairy, and the sugar refinery closed in February 2008. Now, Łapy is a medical and educational centre for the region of the former Łapy county.

Location

The town of Łapy is located in north-eastern Poland. According to Kondracki's division of Poland into physico-geographical regions, the town of Łapy sits on North-Podlasie Plain, over the Upper Valley of Narew. The town of Łapy lies by the Narew river. The terrain is elevated here from 120 to 130 metres.

Included in Białystok agglomeration, the town is situated in the buffer zone of Narew National Park.

According to data from 1 January 2010, the town area then was 12.14 km².

Between 1954 and 1975 Łapy was the administrative centre of Łapy County of Białystok Voivodeship. Between 1975 and 1998 the voivodeship was smaller.

Annual percentage yield

Annual percentage yield (APY) is a normalized representation of an interest rate, based on a compounding period of one year. APY figures allow for a reasonable, single-point comparison of different offerings with varying compounding schedules. However, it does not account for the possibility of account fees affecting the net gain. APY generally refers to the rate paid to a depositor by a financial institution, while the analogous annual percentage rate (APR) refers to the rate paid to a financial institution by a borrower.

To promote financial products that do not involve debt, banks and other firms will often quote the APY (as opposed to the APR because the APY represents the customer receiving a higher return at the end of the term). For example, a CD that has a 4.65 percent APR, compounded monthly, for 8-months would instead be quoted as a 4.75 percent APY.

Equation

One common mathematical definition of APY uses this effective interest rate formula, but the precise usage may depend on local laws.