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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

Cap (Module)

caps on the total interest accruable

PromotionalRate (Module)

a promotional interest rate valid during the specified date range

Rate (Module)

Cap (Type)

caps on the total interest accruable

Config

interest options

DailyRate

the daily interest rate

Method

the method used to calculate the interest

PromotionalRate (Type)

a promotional interest rate valid during the specified date range

Rate (Type)

the interest rate expressed as either an annual or a daily rate

Functions and values

Function or value Description

calculate balance dailyInterestCap interestRounding dailyRates

Full Usage: calculate balance dailyInterestCap interestRounding dailyRates

Parameters:
Returns: decimal<MeasureProduct<Cent, MeasureOne>>

calculates the interest accrued on a balance at a particular interest rate over a number of days, optionally capped by a daily amount

balance : int64<MeasureProduct<Cent, MeasureOne>>
dailyInterestCap : Amount voption
interestRounding : Rounding
dailyRates : DailyRate array
Returns: decimal<MeasureProduct<Cent, MeasureOne>>

calculateRebate principal payments apr settlementPeriod settlementPartPeriod unitPeriod paymentRounding

Full Usage: calculateRebate principal payments apr settlementPeriod settlementPartPeriod unitPeriod paymentRounding

Parameters:
Returns: int64<MeasureProduct<Cent, MeasureOne>>

calculates the amount of rebate due following an early settlement

principal : 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>>

dailyRates startDate isSettledWithinGracePeriod standardRate promotionalRates fromDay toDay

Full Usage: dailyRates startDate isSettledWithinGracePeriod standardRate promotionalRates fromDay toDay

Parameters:
Returns: DailyRate[]

calculates the interest chargeable on a range of days

startDate : Date
isSettledWithinGracePeriod : bool
standardRate : Rate
promotionalRates : PromotionalRate array
fromDay : int<MeasureProduct<OffsetDay, MeasureOne>>
toDay : int<MeasureProduct<OffsetDay, MeasureOne>>
Returns: DailyRate[]

ignoreFractionalCent i

Full Usage: ignoreFractionalCent i

Parameters:
Returns: decimal<MeasureProduct<Cent, MeasureOne>>

if there is less than one cent remaining, discards any fraction

i : decimal<MeasureProduct<Cent, MeasureOne>>
Returns: decimal<MeasureProduct<Cent, MeasureOne>>

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