Invantive VisionThe interest method indicates in what way the interest is calculated. Examples of interest methods are:
Interest method code |
Description |
6% Interest360E |
6% in accordance with 360 Europe Interest days per Year, 0 days interest free |
6% Interest365 |
6% in accordance with 365 Interest days per year, 14 days interest free |
6% Interest360N |
6% in accordance with 360 NASD Interest days per Year (Excel), 0 days interest free |
8% Penalty Interest360E |
8% in accordance with 360 Europe Interest days per Year (penalty interest), 0 days interest free |
8% Penalty Interest365 |
8% in accordance with 365 Interest days per year (penalty interest), 0 days interest free |
8% Penalty Interest360N |
8% in accordance with 360 NASD Interest days per Year (Excel) (penalty interest), 0 days interest free |
Interest methods can be edited in the screen Interest methods.
