Has anyone else noticed just how cynical the banks can be?
Just today, I received in the mail two offers, from different banks: One offered a loan at a certain Annual Percentage Rate (APR). This is in keeping with what I grew up with.
The other offered a savings account with a certain Annual Percentage Yield (APY).
To compare the two is like comparing apples with oranges, since one takes into account compounded interest, whereas the other does not.
Presumably, these folks are just hoping that no one will notice the difference...