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Mastering Financial Calculations: A step-by-step guide to the mathematics of financial market instruments, Second edition by Bob Steiner

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Appendix 4. Glossary

30/360

(Or 360/360). A day/year count convention assuming 30 days in each calendar month and a “year” of 360 days; sometimes adjusted for certain periods ending on 31st day of the month or the last day of February.

360/360

Same as 30/360.

accreting

An accreting principal is one which increases during the life of the deal. See amortising, bullet.

accrued interest

The proportion of interest or coupon earned on an investment from the previous coupon payment date until the value date.

accumulated value

Same as future value.

ACT/360

A day/year count convention taking the number of calendar days in a period and a “year” of 360 days.

ACT/365

(Or ACT/365 fixed). A day/year count convention taking the number of calendar days in a period and a “year” ...

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