[Info] New interest system

[Joshy]

[comment]*********************************************************
MODERATORS, DO NOT EDIT THIS TOPIC.
ADMINS CAN EDIT THIS TOPIC BUT DON'T TOUCH THE CALCULATOR
OTHERWISE IT WILL BREAK THE INTEREST CALCULATOR
AND JOSHY WILL BE VERY ANNOYED...
*********************************************************[/comment]As you may have noticed, there was an update recently that introduced monthly-based interest in place of the older daily-based system. Here are some things that are known about it (feel free to reply with additional info).

Legend
GREEN TEXT - real life time
RED TEXT - in-game time

• A in-game month is 30 days in-game, or 12 hours in real life.
• interest hours / days are cumulative, which means you can spend 6 hours on the server (which is 15 days in-game) in one day, and spend another 6 hours on the server some other time, and you will still get interest.
• your interest builds up over time, adding to a 'interest bank' every now and again, so even if you are half way through your current interest period and you put money in the bank then, you will still get more interest back, so remember to store your money in bank to get more interest.
• after the 30th day (or 12 hours in real life), you are given your interest which is deposited in your bank. It is unknown whether the interest given to you is rounded, rounded up or rounded down.
• The monthly interest rate is 0.83% (recurring), and the yearly rate is 10%. (Source: Mick's Google+) When compared to the old system (0.03% daily), the older system made 8% more interest than the newer system.
• The newly added "interest received" stat is a total amount of interest you have received from 11 July 2012 until now.
• Mick chose 30 days instead of 28 days or 31 days (29 days would be stupid ) because "it's a simple number". (Source: Google+)
• Mick changed to the monthly-based interest system because "larger numbers look nicer". (Source: Google+) (And probably because it's more realistic)

Interest estimator

Your current bank balance:
Securicar achievement?:
Interest: N/A
Interest rate: 10% yearly, or 0.83% (recurring) monthly (those with securicar achievement: 12% yearly)

^{This isn't going to be correct, but it's a rough estimate of what your interest will be.}

I hope this topic helped with the recent confusion about the new update, and if you can't understand how I explain things, I am no accountant (but good with maths).

If you have anything to add, post here. (be sure to test your theories first though...)
^{If you haven't... you should hit the "[give cookie]" button on the left... if you want to that is. cookie-whoring ftw}