The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Mar. 14, 2000
Filed:
Mar. 31, 1998
Jeffrey A Rosenwald, Frederick, MD (US);
Other;
Abstract
In a method and apparatus for managing and calculating interest on time deposits, loans, and other interest bearing financial instruments, data is stored in several distinct memories. A series of financial transactions is stored in a transaction memory having date and principal amount attributes. Data representing the performance of an investment or loan is stored in an interest factor memory having date, interest factor, and aggregate factor attributes. A displayable interest data memory is populated with interest data synthesized by associating the transaction memory to the interest factor memory by matching corresponding date attributes, then computing the product of the transaction principal amount attribute in the transaction memory and the aggregate factor attribute in the interest factor memory. The interest earned/owed on each transaction is updated each business day and is maintained separately, that is, the interest on each transaction is stored separately from its associated transaction principal amount and from the interest on other transactions.