Description
Clamp balance into the tier slice and multiply slice by annualRate×fractionOfYear.
Interest and accrual depend on the rate period, compounding rule and day-count basis. A supplied fraction of a year or coupon period is different from deriving that fraction under a contractual calendar convention.
Clamp balance into the tier slice and multiply slice by annualRate×fractionOfYear.
When to use this tool
Use Margin Interest Tier One Slice when you need one interest, accrual or supplied-period calculation.
How to use the tool and how it works
- Enter balance, lower, upper, annualRate, fractionOfYear. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read tierBalance, interest. Use the output convention below.
Require nonnegative balance/lower/year fraction and upper above lower. Clamp balance into the tier slice and multiply slice by annualRate×fractionOfYear.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| balance | Balance | Required. Finite number; minimum 0. |
| lower | Lower | Required. Finite number; minimum 0. |
| upper | Upper | Required. Finite number. |
| annualRate | Annual Rate | Required. Finite number. |
| fractionOfYear | Fraction Of Year | Required. Finite number; minimum 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| tierBalance | Tier Balance | Required. Finite number. |
| interest | Interest | Required. Finite number. |
{
"input": {
"balance": 15000,
"lower": 10000,
"upper": 20000,
"annualRate": 0.08,
"fractionOfYear": 0.25
},
"output": {
"tierBalance": 5000,
"interest": 100
}
}Limitations and assumptions
- Rate may be negative and is a fraction. This is one simple-interest tier, not a full tiered account calculation or a day-count-rule selection.
- 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
Use the full schedule and applicable agreement for actual charges. State rate units, compounding, calendar basis and rounding policy rather than assuming one universal accrual convention.
References
Similar or alternative tools
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- Securities Lending Rebate Day Term
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