Method and apparatus for managing interest on a developing serie

Details Method and apparatus for managing interest on a developing serie Method and apparatus for managing interest on a developing serie

1998-03-31

2000-03-14

Voeltz, Emanuel Todd

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

705 37, 707104, G06F 1760

Patent

active

060385502

ABSTRACT:
In a method and apparatus for managing and calculating interest on time deposits, loans, and other interest bearing financial instruments, data is stored in several distinct memories. A series of financial transactions is stored in a transaction memory having date and principal amount attributes. Data representing the performance of an investment or loan is stored in an interest factor memory having date, interest factor, and aggregate factor attributes. A displayable interest data memory is populated with interest data synthesized by associating the transaction memory to the interest factor memory by matching corresponding date attributes, then computing the product of the transaction principal amount attribute in the transaction memory and the aggregate factor attribute in the interest factor memory. The interest earned/owed on each transaction is updated each business day and is maintained separately, that is, the interest on each transaction is stored separately from its associated transaction principal amount and from the interest on other transactions.

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"TIMSLIPS Anounces Powerful Financial Analysis Tool For Business and Personal Finance", DIALOG(R) File 621:New Prod. Anou. (R) 00254218, Feb. 26.

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