http://www.cigital.com/justice-league-blog/2007/09/18/a-tale-of-two-banks/ Wed, 30 Nov 2011 15:50:04 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.cigital.com/justice-league-blog/2007/09/18/a-tale-of-two-banks/#comment-58 James Cahill Wed, 12 Nov 2008 02:53:05 +0000 http://www.cigital.com/justiceleague/2007/09/18/a-tale-of-two-banks/#comment-58 Very interesting story. I checked the differences between compounding $1000.00 for 1 year at 5%interest at various intervals. The accumulated amounts were as follows: Month $1051.16 Week $1051.25 Day $1051.26 Hour $1051.27 Second $1051.27 Continuous $1051.27 Other than oneupmanship what was the point in compounding at intervals less than a month or a week? Very interesting story. I checked the differences between compounding $1000.00 for 1 year at 5%interest at various intervals. The accumulated amounts were as follows:
Month $1051.16
Week $1051.25
Day $1051.26
Hour $1051.27
Second $1051.27
Continuous $1051.27
Other than oneupmanship what was the point in compounding at intervals less than a month or a week?

]]> http://www.cigital.com/justice-league-blog/2007/09/18/a-tale-of-two-banks/#comment-57 ?_Heather Fri, 28 Dec 2007 16:44:07 +0000 http://www.cigital.com/justiceleague/2007/09/18/a-tale-of-two-banks/#comment-57 What a great article! I'm glad to know the details of this example (which I mentioned in our own blog above) and also the fact that sometimes simpler is better than fancy for writing codes. A good example to pass along to my own undergraduate math majors.... What a great article! I’m glad to know the details of this example (which I mentioned in our own blog above) and also the fact that sometimes simpler is better than fancy for writing codes. A good example to pass along to my own undergraduate math majors….

]]> http://www.cigital.com/justice-league-blog/2007/09/18/a-tale-of-two-banks/#comment-56 Speaking of compound interest « 360 Fri, 28 Dec 2007 16:30:10 +0000 http://www.cigital.com/justiceleague/2007/09/18/a-tale-of-two-banks/#comment-56 [...] Or at least, there used to be. In the article “A Tale of Two Banks,??? Craig Miller explains how in the 1970s compounding wasn’t done as frequently as today, both because of the market and because of technological limits. At one point, though, two banks began to use the frequency of compounding as a way to compete with each other: one advertised weekly, the next daily, and then the first announced that it would compound continuously. The second bank followed, and Miller was hired to write the appropriate code. (The article itself contains many more details of the scenario, and is certainly worth a read!) [...] [...] Or at least, there used to be. In the article “A Tale of Two Banks,??? Craig Miller explains how in the 1970s compounding wasn’t done as frequently as today, both because of the market and because of technological limits. At one point, though, two banks began to use the frequency of compounding as a way to compete with each other: one advertised weekly, the next daily, and then the first announced that it would compound continuously. The second bank followed, and Miller was hired to write the appropriate code. (The article itself contains many more details of the scenario, and is certainly worth a read!) [...]

]]> http://www.cigital.com/justice-league-blog/2007/09/18/a-tale-of-two-banks/#comment-55 Ben Tue, 18 Sep 2007 15:22:43 +0000 http://www.cigital.com/justiceleague/2007/09/18/a-tale-of-two-banks/#comment-55 Excellent story! I actually guessed Fortran by the end of your 2nd paragraph. It's what we used in 1997 to write the image processing software for an industrial grade CT Scanner. Image acquisition was done with more modern languages with built-in drivers for the CCD and locomotion (4 axes), but once all the images were acquired, we then ran Fortran routines to produce the 3D image constructions. I tried porting the Fortran to C, for better supportability, but it ended up being a wasted effort as the C never could run as efficiently. Fortran was designed for computationally complex functions like these. :) Excellent story! I actually guessed Fortran by the end of your 2nd paragraph. It’s what we used in 1997 to write the image processing software for an industrial grade CT Scanner. Image acquisition was done with more modern languages with built-in drivers for the CCD and locomotion (4 axes), but once all the images were acquired, we then ran Fortran routines to produce the 3D image constructions. I tried porting the Fortran to C, for better supportability, but it ended up being a wasted effort as the C never could run as efficiently. Fortran was designed for computationally complex functions like these.

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