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Rounding of Interest Rate |
  
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Rounding of Interest Rate |
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You have precise control over the decimal accuracy of interest rates used. Sometimes legislation or contractual terms will define the accuracy required. Also see Default Rounding of Annual Rate to Daily Rate. That setting controls rounding of the daily rate of interest whereas this one controls rounding of the annual rate.
No Rounding
This method does not adjust the interest rate at all.
Round Up
This method rounds to the specified number of decimals. If the place after that number of decimals is a '5' then the number is rounded up.
Eg (if 8 decimal places) 10.4567894567% becomes 10.4567894600.
Round Down
This method rounds to the specified number of decimals. If the place after that number of decimals is a '5' then the number is rounded down.
Eg (if 8 decimal places) 10.4567894567% becomes 10.4567894500.
Truncate
This method ignores all places after the decimal point so you should use it with caution.
Eg 10.4567894567% becomes 10.0%