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Assume I deposit $100 in a savings account quoted at 1.00% APY. Must I leave the $100 in the account for one year to get the 1.00% or $1.00?

If I take the funds out at say six months, will I only receive 0.05% or less? Meaning less than $0.50?

Does APY refer only to savings oriented accounts (those that "earn" you interest) and APR to credit/loan accounts (those "cost" you interest)?

How many different ways or terms can a credit card company quote its percentage rate?

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