InterestFirstTest016
| Day |
Datestamp |
Advances |
Scheduled payment |
Window |
Payment due |
Actual payments |
Net effect |
Payment status |
Balance status |
Actuarial interest |
New interest |
Interest portion |
Principal portion |
Interest balance |
Principal balance |
Settlement figure |
| ★ 0 |
2024-07-23 |
1,000.00 |
n/a |
0 |
0.00 |
n/a |
0.00 |
information only |
open |
0.0000 |
0.0000 |
0.00 |
0.00 |
362.3500 |
1,000.00 |
1,000.00 |
| 10 |
2024-08-02 |
n/a |
original 272.48 |
1 |
272.48 |
n/a |
272.48 |
not yet due |
open |
40.0000 |
0.0000 |
272.48 |
0.00 |
89.8700 |
1,000.00 |
1,040.00 |
| 41 |
2024-09-02 |
n/a |
original 272.48 |
2 |
272.48 |
n/a |
272.48 |
not yet due |
open |
124.0000 |
0.0000 |
89.87 |
182.61 |
0.0000 |
817.39 |
817.39 |
| 71 |
2024-10-02 |
n/a |
original 272.48 |
3 |
272.48 |
n/a |
272.48 |
not yet due |
open |
98.0868 |
0.0000 |
0.00 |
272.48 |
0.0000 |
544.91 |
544.91 |
| 102 |
2024-11-02 |
n/a |
original 272.48 |
4 |
272.48 |
n/a |
272.48 |
not yet due |
open |
67.5688 |
0.0000 |
0.00 |
272.48 |
0.0000 |
272.43 |
272.43 |
| 132 |
2024-12-02 |
n/a |
original 272.43 |
5 |
272.43 |
n/a |
272.43 |
not yet due |
closed |
32.6916 |
0.0000 |
0.00 |
272.43 |
0.0000 |
0.00 |
0.00 |
Key: ★ = evaluation day; ✓ = settlement day
Final Stats
| Generated settlement: n/a |
Final balance status: closed |
| Effective interest rate: 0.2745075758 % per day |
Final cost-to-borrowing ratio: 36.24 % |
| Required scheduled payment count: 5 |
Last required scheduled payment day: 132 |
| Final actual payment count: 0 |
Last actual payment day: n/a |
Description
Add-on interest method with interest rate under the daily cap should have a lower initial interest balance than the cap (no cap)
Generated: see details
Basic Parameters
| Evaluation Date |
2024-07-23 |
| Start Date |
2024-07-23 |
| Principal |
1,000.00 |
| Schedule options |
| config: auto-generate schedule |
schedule length: payment count 5 |
| unit-period config: monthly from 2024-08 on 02 |
|
| Payment options |
| rounding: rounded up |
| level-payment option: lower final payment |
|
| Fee options |
no fee
|
| Interest options |
| standard rate: 0.4 % per day |
method: add-on |
| rounding: rounded down |
APR method: UK FCA to 1 d.p. |
| cap: total n/a; daily n/a |
|
Advanced Parameters
| Payment options |
| scheduling: as scheduled |
timeout: 3 days |
| minimum: defer or write off up to 0.50 |
|
| Interest options |
| initial grace period: 0 day(s) |
rate on negative balance: 8 % per year |
| promotional rates: n/a |
|
| Fee options |
no fee
|
| Charge options |
no charges
|
| Settlement day | n/a |
| 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 |
362.35 |
1,000.00 |
0.0000 |
0.00 |
0.00 |
| 10 |
272.48 |
40.0000 |
272.48 |
0.00 |
89.87 |
1,000.00 |
40.0000 |
272.48 |
0.00 |
| 41 |
272.48 |
124.0000 |
89.87 |
182.61 |
0.00 |
817.39 |
164.0000 |
362.35 |
182.61 |
| 71 |
272.48 |
98.0868 |
0.00 |
272.48 |
0.00 |
544.91 |
262.0868 |
362.35 |
455.09 |
| 102 |
272.48 |
67.5688 |
0.00 |
272.48 |
0.00 |
272.43 |
329.6556 |
362.35 |
727.57 |
| 132 |
272.43 |
32.6916 |
0.00 |
272.43 |
0.00 |
0.00 |
362.3472 |
362.35 |
1,000.00 |
Initial Stats
| Initial interest balance: 362.35 |
Initial cost-to-borrowing ratio: 36.24 % |
Initial APR: 440.1 % |
| Level payment: 272.48 |
Final payment: 272.43 |
Last scheduled payment day: 132 |
| Total scheduled payments: 1,362.35 |
Total principal: 1,000.00 |
Total interest: 362.35 |
FSharp.Finance.Personal