Annual Percentage Yield

The APY Calculation provides an independent verification for the Federal Truth in Savings Act’s annual percentage yield on a deposit instrument. By supplying key pieces of data, the SCE will pass back an exhaustive analysis of the APY for the deposit in question.

Sample Request

The following is a sample SCE request for an APY calculation:

<?xml version="1.0" encoding="UTF-8" standalone="no"?> <!DOCTYPE inAPY SYSTEM "inAPY.dtd" > <inAPY DecAccuracy="4" Compounding="Daily" Statement="Monthly" > <Principal>1000.00</Principal> <Interest>61.68</Interest> <InvestDate>2014-04-16</InvestDate> <MaturityDate>2015-04-16</MaturityDate> </inAPY>

Sample Response

The following is a sample response generated by the sample request above:

<?xml version="1.0" standalone="no" ?> <!DOCTYPE outAPY SYSTEM "outAPY.dtd"> <outAPY> <Results> <Description>Successful Calculation</Description> </Results> <APY Formula="General">6.1680%</APY> <Timeline> <Compounding Frequency="Daily">1</Compounding> <Statements Frequency="Monthly">30</Statements> <InvestmentDate>2014-04-16</InvestmentDate> <MaturityDate Days="365">2014-04-16</MaturityDate> </Timeline> <Investment> <Principal>1000.00</Principal> <Interest>61.68</Interest> </Investment> </outAPY>