https://github.com/ac000/cashflo

Simple app to calculate if it is cheaper to go into overdraft or to pay the merchant service charge
https://github.com/ac000/cashflo

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Simple app to calculate if it is cheaper to go into overdraft or to pay the merchant service charge

• Host: GitHub
• URL: https://github.com/ac000/cashflo
• Owner: ac000
• License: gpl-2.0
• Created: 2012-10-12T15:06:25.000Z (about 12 years ago)
• Default Branch: master
• Last Pushed: 2013-04-20T13:58:47.000Z (over 11 years ago)
• Last Synced: 2023-04-14T01:30:45.475Z (over 1 year ago)
• Language: C
• Size: 145 KB
• Stars: 0
• Watchers: 2
• Forks: 0
• Open Issues: 0
• Metadata Files:
  • Readme: README
  • License: COPYING

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README

        
Overview

========

This is a very simple utility that can show if it is cheaper to wait to be

paid after x number of days and possibly go into overdraft and pay interest

or if it would be better to get paid immediately by card but pay the merchant

service charge.

How it Works

============

To do this, it needs five pieces of information.

    1) The amount. This would be the amount of the invoice and the amount

       that you would be in overdraft and paying interest on.

    2) Interest Rate. The rate of interest you are charged by the bank on

       your overdraft. This will just be a yearly rate.

    3) Interest Type. This is how the bank calculates the interest. It will

       be one of two ways.

	* EAR. This is the Effective Annual Rate. It is defined as;

			r = (1 + i/n)^n - 1

	       Where i is the nominal rate (aka APR) and n is the

	       compounding frequency.

	* APR. This is the Annual Percentage Rate. This can be defined in

	       terms of the EAR as:

			r = n * ((1 + EAR)^(1/n) - 1)

	See do_calc() for how these are actually calculated.

    4) Payment Terms. This is how long it takes you to get paid in days.

    5) Merchant Service Charge. This is how much you'd be charged for card

       transactions. This is a one off percentage charge per transaction.

Given this information, it will then tell you how much interest you would

pay on the amount over the period given. It will also tell you what you'd

pay for the merchant service charge.

Lastly it will work out at what point the interest charges and merchant

service charge converge and give you this in days. For a given EAR it

can work this out exactly. For an APR it can approximate it to within a

day.

Caveats

=======

This will likely only work for UK banks. Also, it doesn't take into account

monthly charges for being in overdraft etc.

It doesn't do anything special with leap years.

Building / Running

==================

See INSTALL

License

=======

This application is licensed under the GNU General Public License version 2.

See COPYING