<prompt> Human: Up until recently I had a regular savings account with my local Federal Credit Union. During that 2 year period I accumilated a fair amount of money in my account. This savings account gave me a .6 interest quarterly the interest actually changed each quarter, but the problem is consistent if the updated interest is used. Taking one quarter as an example, I had 13,312.01 in the savings account at the beginning of the quarter and 16,942.47 at the end of the quarter. The comment for the interest I earned within my online banking says exactly: Annual Percentage Yield Earned 0.60 The value in interest I received was 25.20. But, 16,942.47 .006 101.65. Why does it appear as if I am getting .148 interest instead of .60 interest?Am I doing this completely wrong? The reason I am asking is because I recently switched to a more advantageous account that gives interest monthly assuming you keep a certain amount in the account.Edit: A friend pointed out Annual Precentage Yield Earned, implying I get that interest over a whole year, but they are doing it quarterly.. so .64 quarters .15quarter which is pretty accurate to the .148 above. Kind of disapointing if the new account is the same way.  <response>: Your new account is almost certainly the same way. They probably quoted you and annual percentage rate If it posts interest monthly, they each month you will get interest of average balanceapr12. 