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Don't know much about this, NSS...but...apparently the "formula" for calculating  APY  is :

APY   = ( 1 + r/n)^n   -1

Where, in our case....r = 12%  = .12   and  n  = 12

So

APY  = (1 + .12 / 12)^12  - 1   ≈  .1268  ≈  12.68%