CM-7.5.10
Past version: Effective from 01 Oct 2007 to 30 Sep 2011
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The meaning of letters and symbols used in the above formula are:
| K | is the number identifying a particular advance of credit; |
| K' | is the number identifying a particular instalment; |
| Ak | is the amount of advance K; |
| A'k' | is the amount of instalment K; |
| Σ | represents the sum of all the terms indicated; |
| M | is the number of advances of credit; |
| M' | is the total number of instalments; |
| tk | is the interval, expressed in years between the relevant date and the date of advance K; |
| tk' | is the interval expressed in years between the relevant date and the date of instalment K'; |
| I | is the APR, expressed as a decimal. |
October 07