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<calculator> <vos> <common> <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 a monthly basis.</p><p><b><font size="+1">Calculator Assumptions</font></b></p><p><b>Length of Month</b></p><p>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.</p><p><b>Interest Rate used for Compounding Frequency</b></p><p>One year is assumed to contain exactly 12 months, four quarters, and two six-monthly periods. The calculator assumes that the interest rate to be used in the compounding case is the annual rate entered divided by the corresponding frequency. 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><p><b>Rounding of Amounts of Total Accumulation and Interest Earned</b></p><p>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><p><b>Today’s Dollars' - Adjustments Based on the Assumed Rate of Inflation</b></p><p>Where the savings term is set for two or more years the value is adjusted based on the assumed rate of inflation of 2.5%*. The actual rate of inflation may differ significantly from this assumption. If inflation is more or less than the assumed rate of inflation, the outcome at the end of the selected period could be affected.</p><p><b>Fees, Charges and Interest Rate</b></p><p>This calculator does not take into account the effect of certain fees and costs such as exit fees, activity fees or taxes payable. When calculating a future value based on an interest rate, the calculator makes an assumption that the interest rate will not change over time.</p><p>* The assumed rate of inflation is set by ASIC at 2.5% based on the midpoint of the Reserve Bank of Australia’s target range for inflation.</p><p>Results from the calculator should be used as an indication only and do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rate quotes and default figures used in the assumptions are subject to change. This calculator is not intended to be relied on for the purpose of making a decision about a particular financial product and the user should consider obtaining advice from an Australian Financial Service Licensee before making any decisions. Calculator © InfoChoice 2016.</p>]]></AssumptionText> <Footer type="cdata"><![CDATA[ Note: This calculator does not take into account an assumed change in the cost of living between the time of the calculation and the future dates input. Results from the calculator should be used as an indication only and do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rate quotes and default figures used in the assumptions are subject to change. Calculator © InfoChoice 2016. ]]></Footer> <FormulaType value="4" /> </common> <termDeposit> <SavingsTermList type="list" value="1 Month,2 Months,3 Months,4 Months,5 Months,6 Months,7 Months,8 Months,9 Months,10 Months,11 Months,12 Months,24 Months,36 Months,48 Months,60 Months" /> <StartingDeposit type="num" default="0" max="100000" step="100" /> <StartingDepositRanges value="0,20000,50000,10000000" /> <StartingDepositValues value="100,1000,5000" /> <StartingDepositInputMax value="10000000" /> <InterestRate type="num" default="0.00" max="20" /> <SavingsTerm type="num" default="3" min="1" max="25" /> </termDeposit> </vos> </calculator>