Handbuch Treasury / Treasurer's Handbook
3. Aufl. 2020
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S. 1130Part VII: Annex
1. Formulas
1.1. Financial Mathematics
1.1.1. Calculating Simple Interest
The formula for calculating simple interest (single payment of interest and a term of less than one year) is:
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I = C × r × | D |
B |
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I | = amount of interest |
C | = capital amount |
r | = interest rate in decimals (i.e. 5% = 0.05; 10.3% = 0.103; etc.) |
D | = number of days of interest period |
B | = day basis of calculation (fixed number of days per year) |
Bank A gives a 1-month deposit of Euro 5 m at 3%. Start date of this credit is October 1st and end date is November 1st. The actual number of days for this period is 31. Basis of term calculation is 360 days per year. The absolute interest of this credit is:
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I = 5,000,000 × 0.03 × | 31 | = 12,916.67 |
360 |
On November 1st, the borrower will either
pay interest of Euro 12,916.67 and roll over the credit, or
settle the credit by paying back the principal plus interest: Euro 5,012,916.67
1.1.2. Average Interest
If different interest rates apply over several interest periods while giving or taking money, the average interest rate may be calculated like this:
S. 1132
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rAV | = average interest rate |
r1,r2,…rn | = interest rate of the respective terms of interest, in decimals |
B | = day basis of calculation |
D1,D2,…Dn | = ... |