Description
Compute percentage term, max it with the floor, then cap payment at balance; floorBinding compares floor strictly with the percentage term.
Financial accounting arithmetic tracks amounts, balances, fees and allocations on a declared currency and sign basis. An algebraically consistent result does not authorize a transaction or establish an amount legally due.
Compute percentage term, max it with the floor, then cap payment at balance; floorBinding compares floor strictly with the percentage term.
When to use this tool
Use Card Statement Minimum Fixed Floor Gap when you need a specified monetary balance or allocation calculation.
How to use the tool and how it works
- Enter balance, rate, fixedFloor. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read percentageTerm, minimumPayment, floorBinding. Inspect floorBinding before interpreting the associated values.
Require nonnegative balance/floor and rate in [0, 1]. Compute percentage term, max it with the floor, then cap payment at balance; floorBinding compares floor strictly with the percentage term.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| balance | Balance | Required. Finite number; minimum 0. |
| rate | Supplied rate on the period and denominator basis stated above. | Required. Finite number; minimum 0; maximum 1. |
| fixedFloor | Fixed Floor | Required. Finite number; minimum 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| percentageTerm | Percentage Term | Required. Finite number. |
| minimumPayment | Minimum Payment | Required. Finite number. |
| floorBinding | Floor exceeds percentage term, even if final payment is capped by balance. | Required. Boolean. |
{
"input": {
"balance": 1000,
"rate": 0.02,
"fixedFloor": 25
},
"output": {
"percentageTerm": 20,
"minimumPayment": 25,
"floorBinding": true
}
}Limitations and assumptions
- The floor flag can be true even when the balance cap controls final payment. No card agreement, interest, delinquency or legal minimum-payment rule is selected.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Reconcile source ledgers and governing agreements using the intended currency precision and accounting policy. Include omitted fees, tax, timing and legal requirements before acting on a result.
References
Similar or alternative tools
- Finance: Fee Cap Floor Single Transaction
Clamp amount×rate between the supplied fee limits.
- Installment Overpayment Next Balance Term
Split opening+interest-payment into nonnegative balance and overpayment.