NEW3.00.06 · Released 29 June 2017

NEWfinPOWER Connect

Released in

3.00.06

29 June 2017

1. Opened1 Jun
2. Closed2 Jun
3. Released29 Jun

Article 14609 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.