Article Details
| Id: | 14609 |
| Product: | finPOWER Connect |
| Type: | NEW |
| Version: | 3.00.06 |
| Opened: | 01/06/2017 |
| Closed: | 02/06/2017 |
| Released: | 29/06/2017 |
| Job: | J019111 |
Account Comparison Rate; add new Basis of Finance Rate
A new Comparison Rate basis "Finance Rate" has been added.
This is similar to the Australian NCCP calculation, the difference being Weekly and Fortnightly calculations.
- Australian NCCP uses 52.18 weeks per annum, Finance Rate uses 52 weeks per annum.
- Australian NCCP uses 26.09 fortnights per annum, Finance Rate uses 26 fortnights per annum.