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However, blindly applying the modified Dietz formula, using an end-of-day transaction timing assumption, the day-weighting on the inflow of 8.1m HKD on 30 December, one day before the end of the year, is 1/366, and the average capital is calculated as: start value + inflow × weight = 0 + 8.1m HKD × 1/366 = 22,131.15 HKD. and the gain is:
The denominator of a Rule of 78s loan is the sum of the integers between 1 and n, inclusive, where n is the number of payments. For a twelve-month loan, the sum of numbers from 1 to 12 is 78 (1 + 2 + 3 + . . . +12 = 78). For a 24-month loan, the denominator is 300. The sum of the numbers from 1 to n is given by the equation n * (n+1) / 2.
Since in the Gregorian calendar there are 146,097 days, or exactly 20,871 seven-day weeks, in 400 years, the anchor day repeats every four centuries. For example, the anchor day of 1700–1799 is the same as the anchor day of 2100–2199, i.e. Sunday. The full 400-year cycle of doomsdays is given in the adjacent table.
However, due to the non-integral number of days in a year, these dates can vary by a day or so from year to year. As an example of the inexactness of the dates, according to the U.S. Naval Observatory's Multiyear Interactive Computer Almanac the equation of time was zero at 02:00 UT1 on 16 April 2011. [4]: 277
February's 28 or 29 days is a problem, so the formula rolls January and February around to the end so February's short count will not cause a problem. The formula is interested in days of the week, so the numbers in the sequence can be taken modulo 7.
For example, bonds can be readily priced using these equations. A typical coupon bond is composed of two types of payments: a stream of coupon payments similar to an annuity, and a lump-sum return of capital at the end of the bond's maturity—that is, a future payment. The two formulas can be combined to determine the present value of the bond.
Image source: The Motley Fool. Enphase Energy (NASDAQ: ENPH) Q4 2024 Earnings Call Feb 04, 2025, 4:30 p.m. ET. Contents: Prepared Remarks. Questions and Answers. Call ...
Revenues and gross profit are recognized each period based on the construction progress, in other words, the percentage of completion. Construction costs plus gross profit earned to date are accumulated in an asset account (construction in process, also called construction in progress), and progress billings are accumulated in a liability account (billing on construction in process).