Interest period

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Interest - calculation.

A period of time for which an amount of interest payable or receivable is calculated and becomes payable or receivable.

For example, a day, a week or a month.

Contrasted with the reference period, which is the period in relation to which the rate is quoted.

Interest - counting days - conventions
"The day count convention determines how interest accrues over time in a variety of transactions...
In wholesale markets, interest is usually expressed to accrue at a rate per annum (the reference period).
It is often due and payable at shorter intervals, usually a number of months (the interest period)."
Day count conventions - the Treasurer's wiki.

See also