uat Calculator Admin

<calculator> <variables> <AssumptionText type="cdata"><![CDATA[<p><b><font size="+1">Calculator Information</font></b></p><p>The Term Deposit Calculator calculates the total accumulated balance and interest components in a term deposit account in respect of the parameters entered, namely initial deposit amount, interest rate (per annum) and investment term (months). The accumulated balance and interest components are provided on two interest-paying bases, namely annually and monthly.</p><br /><p><b><font size="+1">Calculator Assumptions</font></b></p><p><b>Length of Month</b></p><p><br />All months are assumed to be of equal length. In reality, some term deposit accounts may accrue on a daily basis leading to a varying number of days’ interest dependent on the number of days in the particular month.<br /></p><p><b>Interest Rate used for Monthly Compounding Frequency</b></p><br /><p>The calculator assumes that the interest rate to be used in the monthly compounding case is the annual rate entered divided by 12. This assumption is used consistently in the calculation of the amount of interest, total balance and effective annual yield. This is standard industry practice.</p><br /><p><b>Rounding of Amounts of Total Accumulation and Interest Earned</b></p><p><br />The amounts of total accumulation and interest earned are rounded to the nearer cent. In practice, the accuracy in these amounts is dependent on the rounding protocols used for interim amounts of interest credited to the account.</p>]]></AssumptionText> </variables> </calculator>