In speaking with an investment manager he said he could get me a CD with the following parameters:
5.359% at maturity and 3.13 APYThe CD is a 10-month $15,000 CD.
In reading previous posts, I understand the definition of APY and "at maturity", but I am just not sure they interrelate, and more important when I am trying to shop for other rates, I want to make sure I am comparing apples to apples.
I am interested in what these numbers actually mean, and ultimately (the bottom line) at the end of the 10-months.
Thank you in advance for your time.
Kevin