InterestCapTest001
| Day |
Datestamp |
Advances |
Scheduled payment |
Window |
Payment due |
Actual payments |
Generated payment |
Net effect |
Payment status |
Balance status |
Actuarial interest |
New interest |
Interest portion |
Principal portion |
Interest balance |
Principal balance |
Settlement figure |
| 0 |
2023-02-09 |
499.00 |
n/a |
0 |
0.00 |
n/a |
n/a |
0.00 |
none scheduled |
open |
0.0000 |
0.0000 |
0.00 |
0.00 |
0.0000 |
499.00 |
499.00 |
| 5 |
2023-02-14 |
n/a |
original 173.01 |
1 |
173.01 |
n/a |
n/a |
0.00 |
missed payment |
open |
19.9600 |
19.9600 |
0.00 |
0.00 |
19.9600 |
499.00 |
518.96 |
| 33 |
2023-03-14 |
n/a |
original 173.01 |
2 |
173.01 |
n/a |
n/a |
0.00 |
missed payment |
open |
111.7760 |
111.7760 |
0.00 |
0.00 |
131.7360 |
499.00 |
630.73 |
| 64 |
2023-04-14 |
n/a |
original 173.01 |
3 |
173.01 |
n/a |
n/a |
0.00 |
missed payment |
open |
123.7520 |
123.7520 |
0.00 |
0.00 |
255.4880 |
499.00 |
754.48 |
| 94 |
2023-05-14 |
n/a |
original 173.00 |
4 |
173.00 |
n/a |
n/a |
0.00 |
missed payment |
open |
119.7600 |
119.7600 |
0.00 |
0.00 |
375.2480 |
499.00 |
874.24 |
| ✓ 441 |
2024-04-25 |
n/a |
n/a |
15 |
0.00 |
n/a |
1,115.01 |
1,115.01 |
generated |
closed |
240.7675 |
240.7675 |
616.01 |
499.00 |
0.0000 |
0.00 |
0.00 |
Key: ★ = evaluation day; ✓ = settlement day
Final Stats
| Generated settlement: 1,115.01 on day 441 |
Final balance status: closed |
| Effective interest rate: 0.2799294735 % per day |
Final cost-to-borrowing ratio: 123.45 % |
| Required scheduled payment count: 4 |
Last required scheduled payment day: 94 |
| Final actual payment count: 0 |
Last actual payment day: n/a |
Description
Total interest in amortised schedule does not exceed interest cap, using unrounded percentages
Generated: see details
Basic Parameters
| Evaluation Date |
2024-04-25 |
| Start Date |
2023-02-09 |
| Principal |
499.00 |
| Schedule options |
| config: auto-generate schedule |
schedule length: payment count 4 |
| unit-period config: monthly from 2023-02 on 14 |
|
| Payment options |
| rounding: rounded up |
| level-payment option: lower final payment |
|
| Fee options |
no fee
|
| Interest options |
| standard rate: 0.876 % per day |
method: actuarial |
| rounding: rounded down |
APR method: UK FCA to 1 d.p. |
| cap: total 123.45 %; daily 0.8 % |
|
Advanced Parameters
| Payment options |
| scheduling: as scheduled |
timeout: 3 days |
| minimum: defer or write off up to 0.50 |
|
| Interest options |
| initial grace period: 3 day(s) |
rate on negative balance: zero |
| promotional rates: n/a |
|
| Fee options |
no fee
|
| Charge options |
no charges
|
| Settlement day | on evaluation day |
| Trim unrequired payments | false |
Initial Schedule
| Day |
Scheduled payment |
Actuarial interest |
Interest portion |
Principal portion |
Interest balance |
Principal balance |
Total actuarial interest |
Total interest |
Total principal |
| 0 |
0.00 |
0.0000 |
0.00 |
0.00 |
0.00 |
499.00 |
0.0000 |
0.00 |
0.00 |
| 5 |
173.01 |
19.9600 |
19.96 |
153.05 |
0.00 |
345.95 |
19.9600 |
19.96 |
153.05 |
| 33 |
173.01 |
77.4928 |
77.49 |
95.52 |
0.00 |
250.43 |
97.4528 |
97.45 |
248.57 |
| 64 |
173.01 |
62.1066 |
62.10 |
110.91 |
0.00 |
139.52 |
159.5594 |
159.55 |
359.48 |
| 94 |
173.00 |
33.4848 |
33.48 |
139.52 |
0.00 |
0.00 |
193.0442 |
193.03 |
499.00 |
Initial Stats
| Initial interest balance: 0.00 |
Initial cost-to-borrowing ratio: 38.68 % |
Initial APR: 1318.7 % |
| Level payment: 173.01 |
Final payment: 173.00 |
Last scheduled payment day: 94 |
| Total scheduled payments: 692.03 |
Total principal: 499.00 |
Total interest: 193.03 |
FSharp.Finance.Personal