A year that consists of 12 months, each of them having 30 days each, and amounting to a 360-day year. This system makes it easier for financial institutions to calculate interest.
Related information about banker's year:
- What is banker's year? definition and meaning
Definition of banker's year: A year that consists of 12 months, each of them having 30 days each, and amounting to a 360-day year. This system makes it easier ...
- banker's year - Business Definition
banker's year definition: A year with 12 months of 30 days each, or 360 days, to make interest calculations easier....
- Banker's Year: Definition from Answers.com
Convention that standardizes the length of a month at 30 days and of a year at 360 days. Example: Under the bankers year, expenses due at the end of the.
- 1.4 Calculation of Interest
A banker's year typically has 360 days. In some cases, the day count is 365 days or 364 days. Once the convention is known, the computation of simple interest ...
- Simple Interest | Engineering Economy Review
Ordinary simple interest is computed on the basis of banker's year. Banker's year: 1 year = 12 months: 1 month = 30 days (all months): 1 year = 360 days ...
- Bond Terminology | TVMCalcs.com
Banker's Year: A banker's year is 12 months, each of which contains 30 days. Therefore, there are 360 (not 365) days in a banker's year. This is a convention ...
- Time Value of Money Terminology | TVMCalcs.com
Banker's Year: A banker's year is 12 months, each of which contains 30 days. Therefore, there are 360 (not 365) days in a banker's year. This is a convention ...
- Prorating Insurance Premium - Real Estate Business - About.com
... to know whether we're prorating "through" or "to" the date of closing, as well as whether we're using a 360 day "banker's year" or a 365 day calendar year.