Savings annuity calculator with graph help |

Settings | Remark |

Days in year |
The number of days within a year can be set to:
**366 days** This is a leap year (normal year + 1 day extra (29 feb)
**365 days** Normal year (non leap year)
**364 days** The 364 day year derives from 52 weeks * 7 day weeks = 364 days in a year.
**360 days** When a month has 30 days, a year has 12 months * 30 = 360 days
The number of days within a year is important when adjusting the time period especially when the day unit is used. Example 1: How time period will be adjusted, a year has 366 days:Interest rate = 5% per year Time period = 100 days 366 days equals 1 year Thus 100 days equals 100/366 = 0.273224 days Example 2: How time period will be adjusted, a year has 365 days:Interest rate = 5% per day Time period = 100 days 365 days equals 1 year Thus 100 days equals 100/365 = 0.273973 days Example 3: How time period will be adjusted, a year has 364 days:Interest rate = 5% per day Time period = 100 days 364 days equals 1 year Thus 100 days equals 100/364 = 0.274725 days Example 4: How time period will be adjusted, a year has 360 days:Interest rate = 5% per day Time period = 100 days 360 days equals 1 year Thus 100 days equals 100/360 = 0.277778 days |