Patent Document ID: 20050071398
Application ID: 10740859
Patent Flag: 0

Claim One:
1. An automated method for calculating interest for an account over a selected time interval, comprising the steps of: receiving calculation period data, including a start point and an end point, each said point defined by date, hour, minute and second; receiving interest condition data, including at least a starting interest data point and optionally including one or more subsequent interest data points, each said interest condition data point having associated therewith an effective interest rate and an effective time point defined by date, hour, minute and second; based on the interest condition data, forming one or more effective interest rate intervals; receiving valuation date data, including one or more valuation points after said starting date and not exceeding said ending date, each said valuation point defined by date, hour, minute, and second, and having associated therewith an account balance; ordering said effective interest rate intervals and valuation points in a time sequence; forming valuation intervals defined by said effective interest rate intervals and valuation points, each said valuation interval having associated therewith an effective interest rate and an account balance; and for each said valuation interval, calculating an interest.