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>