On 16 Dec 2015, at 3:46pm, Adam Devita <adevita at verifeye.com> wrote:
> As a matter of interest, when calculating interest on a sum of money > expressed in pennies, how do you handle int arithmetic truncating? > Is that an accounting design rule thing when dealing with fractions of > a penny to round? When writing accounting software, there will be a specific rule for rounding attached to each calculation. For instance a process for working out a mortgage will include its own instruction "once you have multiplied by the number of days, round down to the next dollar". But the rules for working out interest rates might state "round to the nearest cent, round half to even". Unfortunately there is no world-wide standard for these. There can be one rule for one country (State, industry, etc.) and another for another. Except in Europe where they are all meant to agree with one another. Simon.
