Exchange Currency

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 for financial institutions to calculate interest.

Related information about banker's year:
  1. 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 ...
     
  2. 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....
     
  3. 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.
     
  4. 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 ...
     
  5. 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 ...
     
  6. 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 ...
     
  7. 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 ...
     
  8. 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.