Yeah, just so it isn't lost in the shuffle, the basic difference is that APY takes into account of the interest compounded whereas APR does not. APY also typically assumes that the interest compounded will stay in your account for the entire year, whereas APR has no need for such assumptions.
Otherwise, we're essentially talking about the same thing, just calculated in two different ways.
That's also why APY is always greater than APR, and why some institutions such as banks like to use APY for their savings accounts, because it makes their rates seem higher when it's in fact still the same thing.
If you convert anything in APY back down to APR (and is compounded for the same time periods), then you can compare anything across the board.
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