What is Banker Rule?

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What is Banker Rule?

In math when using I=Prt, what is Banker's Rule?

2006-09-05 14:08:39 · 2 answers · asked by bingo 1 in Science & Mathematics ➔ Mathematics

2 answers

Another Bank Rule that I know about is, when a bank wants to figure daily interest, bank assumes 360 days when dividing the interest rate. I am not sure why.

2006-09-05 14:27:55 · answer #1 · answered by rscanner 6 · 0⤊ 0⤋

Any part of the fraction that belongs to the Bank is rounded up. Any part of the fraction that does not belong to the Bank is rounded down.

;-D I might be mistaken.

2006-09-05 21:13:12 · answer #2 · answered by China Jon 6 · 0⤊ 0⤋