Package tech.corefinance.product.enums

Enum Class InterestDayInYear

java.lang.Object
java.lang.Enum<InterestDayInYear>
tech.corefinance.product.enums.InterestDayInYear
All Implemented Interfaces:
Serializable, Comparable<InterestDayInYear>, Constable
public enum InterestDayInYear extends Enum<InterestDayInYear>

  • Nested Class Summary

    Nested classes/interfaces inherited from class java.lang.Enum

    Enum.EnumDesc<E extends Enum<E>>

  • Enum Constant Summary

    Enum Constants
    Enum Constant
    Description
    ACTUAL_ISDA
    Actual ISDA:
    Calculates the interest daily by counting the number of days in the calendar and also considers leap years.
    FIXED_360_DAYS
    Actual/360 is a day count convention that counts the actual number of days in each month, but deems each year to be 360 days.
    Formula:
    Interest = AnnualInterestRate * OutstandingPrincipalBalance/360 * NumberOfDaysInTheTargetMonth
    Let’s consider a loan with the following terms.
    Loan amount : USD 1000
    Interest rate: 10% per year
    Number of installments: 5
    Interest expected for one month with 28 days: 10%* 1000/360 * 28 = USD 7.78
    Interest expected for one month with 31 days: 10%* 1000/360 * 31 = USD 8.61
    FIXED_365_DAYS
    The Actual/365 Fixed is a day count convention that counts the actual number of days in each month, but deems each year to be 365 days.
    GERMAN_30E_360ISDA
    The 30E/360 ISDA day count convention deems all months to be 30 days in length and each year to be 360 days.

  • Method Summary

    Modifier and Type
    Method
    Description
    static InterestDayInYear
    valueOf(String name)
    Returns the enum constant of this class with the specified name.
    static InterestDayInYear[]
    values()
    Returns an array containing the constants of this enum class, in the order they are declared.

    Methods inherited from class java.lang.Enum

    clone, compareTo, describeConstable, equals, finalize, getDeclaringClass, hashCode, name, ordinal, toString, valueOf

    Methods inherited from class java.lang.Object

    getClass, notify, notifyAll, wait, wait, wait

  • Enum Constant Details

    • FIXED_365_DAYS

      public static final InterestDayInYear FIXED_365_DAYS
      The Actual/365 Fixed is a day count convention that counts the actual number of days in each month, but deems each year to be 365 days. It applies in leap years as well as in normal years.
      Formula:
      Interest = AnnualInterestRate * OutstandingPrincipalBalance/365 * NumberOfDaysInTheTargetMonth
      Let’s consider a loan with the following terms.
      Loan amount : USD 1000
      Interest rate: 10% per year
      Number of installments: 5
      Interest expected for one month with 30 days: 10%* 1000/365 * 30 = USD 8.22
      Interest expected for one month with 31 days: 10%* 1000/365 * 31 = USD 8.49

    • FIXED_360_DAYS

      public static final InterestDayInYear FIXED_360_DAYS
      Actual/360 is a day count convention that counts the actual number of days in each month, but deems each year to be 360 days.
      Formula:
      Interest = AnnualInterestRate * OutstandingPrincipalBalance/360 * NumberOfDaysInTheTargetMonth
      Let’s consider a loan with the following terms.
      Loan amount : USD 1000
      Interest rate: 10% per year
      Number of installments: 5
      Interest expected for one month with 28 days: 10%* 1000/360 * 28 = USD 7.78
      Interest expected for one month with 31 days: 10%* 1000/360 * 31 = USD 8.61

    • ACTUAL_ISDA

      public static final InterestDayInYear ACTUAL_ISDA
      Actual ISDA:
      Calculates the interest daily by counting the number of days in the calendar and also considers leap years.

    • GERMAN_30E_360ISDA

      public static final InterestDayInYear GERMAN_30E_360ISDA
      The 30E/360 ISDA day count convention deems all months to be 30 days in length and each year to be 360 days.
      With this method, the interest accrues at a daily interest rate equal to 1/360th of the interest rate, but for each full month is deemed to accrue for 30 days, regardless whether the month has 28, 29, 30, or 31 days.
      In all cases, with this day count convention, the total number of days in a year will always be 360.
      Formula:
      Interest = AnnualInterestRate * OutstandingPrincipalBalance/360 * 30
      Let’s consider a loan with the following terms.
      Loan amount : USD 1000
      Interest rate: 10% per year
      Number of installments: 5
      Interest expected for one month with 28 days: 10%* 1000/360 * 30 = USD 8.33
      Interest expected for one month with 31 days: 10%* 1000/360 * 30 = USD 8.33

  • Method Details

    • values

      public static InterestDayInYear[] values()
      Returns an array containing the constants of this enum class, in the order they are declared.
      Returns:
      an array containing the constants of this enum class, in the order they are declared

    • valueOf

      public static InterestDayInYear valueOf(String name)
      Returns the enum constant of this class with the specified name. The string must match exactly an identifier used to declare an enum constant in this class. (Extraneous whitespace characters are not permitted.)
      Parameters:
      name - the name of the enum constant to be returned.
      Returns:
      the enum constant with the specified name
      Throws:
      IllegalArgumentException - if this enum class has no constant with the specified name
      NullPointerException - if the argument is null