APY = Annual Percentage Yield, which takes into account the benefit of interest compounding.
At an APY of 0.20% you will collect 30 cents after one year.
$150 x 0.20%
= $150 x 0.002
= $0.30
Okay, there is a bank account that I am applying for. I am putting in $150 and the interest rate is 0.19% and the APY is 0.20%. How much would I get in a year from this?
