Part one of term paper
, also known as the Y2k Problem or Millennium Bug, refers to the inability of computers to accurately process dates in the year 2000 and beyond. On New Year's day, 2000, millions of computer calendars will read the date as 01/01/00. The obvious problem with this is that the year 2000 will be interpreted as 1900. Millions of software applicati ...

Part two of term paper
... date dependent calculations will reach incorrect conclusions when using dates commencing with January 1, 2000 (01/01/00). For example, subtracting 06/30/98 from 06/30/00 in an amortization formula would yield negative 98 years, instead of two years. The negative answer would cause an incorrect calculation or even program failure. Typically, in scenarios of this nature, computers do one of two things: freeze up and/or shut down. Date computation functions are used on millions of software applicati ...