Half-month compounding
The only unusual thing about half-month compounding is, given a starting date, deciding when the other payments fall. Here's how TValue does it:
|
First payment |
Next payment |
|
15th of month |
Last day of month |
|
Last day of month |
15th of month |
|
1st through 14th |
Add 15 days |
|
16th through 30th |
Subtract 15 days |
If a date would fall on February 29 in a non-leap year, it gets dropped back to February 28. The description above won't produce February 30.