Description
Simple interest with all rates, withholding and day-count conventions supplied explicitly.
Property calculations depend on the chosen area, time, rate, and money bases. A ratio, proration, or balance is meaningful only when its inputs describe the same transaction and period. Contract interpretation and the selection of applicable rules remain separate tasks.
Simple interest with all rates, withholding and day-count conventions supplied explicitly.
When to use this tool
Use it for security deposit interest explicit rate when the required inputs and conventions are already available.
How to use the tool and how it works
- Enter deposit, annualRate, elapsedDays, basisDays, withholding. Use the stated units and boundary conventions.
- Run the calculation. Correct any input error before interpreting a result.
- Read interest, refund. Inspect any known, defined, inclusion, or boundary flags before interpreting numeric values.
Compute simple interest as deposit*annualRate*elapsedDays/basisDays and refund as deposit plus that interest minus withholding. Use an explicit positive day-count basis and nonnegative deposit, rate, days, and withholding.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| deposit | Deposit | Required. Finite number; minimum 0. |
| annualRate | Annual Rate | Required. Finite number; minimum 0. |
| elapsedDays | Elapsed Days | Required. Finite number; minimum 0. |
| basisDays | Basis Days | Required. Finite number; strictly above 0. |
| withholding | Withholding | Required. Finite number; minimum 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| interest | Interest | Required. Finite number. |
| refund | Refund | Required. Finite number. |
{
"input": {
"deposit": 1000,
"annualRate": 0.02,
"elapsedDays": 180,
"basisDays": 360,
"withholding": 100
},
"output": {
"interest": 10,
"refund": 910
}
}Limitations and assumptions
- annualRate is a fraction, such as 0.05 for five percent. The refund can be negative and is not floored. No statutory interest rate, compounding, withholding entitlement, or jurisdictional rule is selected.
- The field tables describe structural bounds; the mechanics also state cross-field requirements. Malformed input shapes, disallowed keys, and invalid domains cause input errors. Results must remain finite and within the declared output contract. A successful false flag or zero placeholder is distinct from an error.
- Numeric arithmetic uses binary floating point. Exact comparisons have no hidden tolerance or decimal rounding; negative zero is exported as zero. Decimal-text integer operations retain the exactness specifically stated above.
Alternative or Complementary methods
For security deposit interest explicit rate, check the source records and the supplied rule before comparing the result with another method. Consult the applicable authoritative rule when deciding eligibility, legal timing, fees, or obligations.
References
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