Interest Module
methods for calculating interest and unambiguously expressing interest rates, as well as enforcing regulatory caps on interest chargeable
Types and nested modules
Type/Module | Description |
caps on the total interest accruable |
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interest options |
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a promotional interest rate valid during the specified date range |
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caps on the total interest accruable |
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interest options |
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the daily interest rate |
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the method used to calculate the interest |
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a promotional interest rate valid during the specified date range |
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the interest rate expressed as either an annual or a daily rate |
Functions and values
Function or value |
Description
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Full Usage:
calculate principalBalance dailyInterestCap interestRounding dailyRates
Parameters:
int64<MeasureProduct<Cent, MeasureOne>>
dailyInterestCap : Amount
interestRounding : Rounding
dailyRates : DailyRate array
Returns: decimal<MeasureProduct<Cent, MeasureOne>>
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calculates the interest accrued on a balance at a particular interest rate over a number of days, optionally capped by a daily amount
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Full Usage:
calculateRebate principal payments apr settlementPeriod settlementPartPeriod unitPeriod paymentRounding
Parameters:
int64<MeasureProduct<Cent, MeasureOne>>
payments : (int * int64<MeasureProduct<Cent, MeasureOne>>) array
apr : Percent
settlementPeriod : int
settlementPartPeriod : Fraction
unitPeriod : UnitPeriod
paymentRounding : Rounding
Returns: int64<MeasureProduct<Cent, MeasureOne>>
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calculates the amount of rebate due following an early settlement note: the APR is the initial APR as determined at the start of the agreement
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Full Usage:
dailyRates startDate isSettledWithinGracePeriod standardRate promotionalRates fromDay toDay
Parameters:
Date
isSettledWithinGracePeriod : bool
standardRate : Rate
promotionalRates : PromotionalRate array
fromDay : int<MeasureProduct<OffsetDay, MeasureOne>>
toDay : int<MeasureProduct<OffsetDay, MeasureOne>>
Returns: DailyRate array
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calculates the interest chargeable on a range of days
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Full Usage:
ignoreFractionalCents multiplier i
Parameters:
int
i : decimal<MeasureProduct<Cent, MeasureOne>>
Returns: decimal<MeasureProduct<Cent, MeasureOne>>
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if there is less than one cent remaining, discards any fraction
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