More like mislead with words. 2% "interest rate" over 5 years turns $500 into $550? As in like you don't compound that at all during those 5 years and just do 2% * 5 years = 10%? So like a 1.91% (APY) interest rate? Because, I mean, you want to use APY when quoting loan rates, so I'm confused why you wouldn't also want to quote APY when discussing your interest bearing products too. Oh, because APY, while more comparable across products, produces lower numbers, and you wouldn't want that for a CD that already has a paltry rate? Ok, thanks for clearing that up with a footnote*.
*Assholes