The Actual/365 day count convention which specifies that the number of
days in the Calculation Period or Compounding Period in respect of which
payment is being made is divided by 365.
Represents the movement of money, specifically non-interest bearing cash
in-flows to the lender, for example cash-based charges or fees. The
value of these cash flows must be specified i.e. they cannot be null
or unknown.
The European Union Directive 2008/48/EC (Consumer Credit Directive)
day count convention, used exclusively within EU member states in the
computation of the Annual Percentage Rate of Charge (APRC) for
consumer credit agreements.
The 30/360 (EU) day count convention which specifies that the number of
days in the Calculation or Compounding Period in respect of which payment
is being made is divided by 360, calculated on a formula basis as follows:
A series of one or more advances paid out by a lender. This could comprise
a series of amounts loaned to a borrower, the lessor's net investment in
a lease agreement, etc.
A series of one or more charges or fees received by a lender. These are
non-financing cash flows which are excluded from the computation of
unknown advance or payment cash flow values, but are included under
certain circumstances in other calculations for instance the computation
of implicit interest rates such as Annual Percantage Rates (APRs),
as documented elsewhere.
The 30/360 (US) day count convention which specifies that the number
of days in the Calculation Period or Compounding Period in respect of
which payment is being made is divided by 360, calculated on a formula
basis as follows:
Perform gaussian rounding, also known as “bankers” rounding, convergent
rounding, Dutch rounding, or odd–even rounding. This is a method of
rounding without statistical bias; regular rounding has a native upwards
bias. Gaussian rounding avoids this by rounding to the nearest even
number.
Exception thrown when the unknown cash flow values or interest rate
implicit in a cash flow series cannot be solved within a finite number
of iterations.