[
{
"name": "Practice Note worked example 5: 5.8% paid monthly is 5.96% AER",
"args": [
580,
12
],
"expect": 596
},
{
"name": "Practice Note worked example 1: interest paid once a year, AER equals the gross rate",
"args": [
600,
1
],
"expect": 600
},
{
"name": "paid half-yearly",
"args": [
500,
2
],
"expect": 506
},
{
"name": "paid quarterly",
"args": [
500,
4
],
"expect": 509
},
{
"name": "paid monthly at 12% is 12.68%",
"args": [
1200,
12
],
"expect": 1268
},
{
"name": "paid daily",
"args": [
450,
365
],
"expect": 460
},
{
"name": "paid weekly",
"args": [
450,
52
],
"expect": 460
},
{
"name": "zero rate",
"args": [
0,
12
],
"expect": 0
},
{
"name": "a tiny rate still rounds to a whole basis point",
"args": [
1,
12
],
"expect": 1
},
{
"name": "a very high rate",
"args": [
10000,
12
],
"expect": 16130
},
{
"name": "4.5% paid monthly is 4.59%, not 4.60%",
"args": [
450,
12
],
"expect": 459
},
{
"name": "a negative rate is refused",
"args": [
-10,
12
],
"expectError": "grossRateBasisPoints must be between 0 and 100000"
},
{
"name": "zero payments a year is refused",
"args": [
500,
0
],
"expectError": "paymentsPerYear must be between 1 and 365"
},
{
"name": "more than daily is refused",
"args": [
500,
366
],
"expectError": "paymentsPerYear must be between 1 and 365"
}
]