What is an EAR?$$ What is an APY?$$ How do you compute an EAR?$$ If you forget the formula, how can you compute an EAR using the $5$ basic TVM keys $($i$.$e$.$ row $3$:$$ N$,$ I, PV$,$ PMT$,$ FV$)$ on your calculator?$$ FYI, an APY is also know as $($aka$)$ an Effective Annual Rate $($EAR$,$ or often EFF Rate for effective rate$)$ and vice$-$versa.