Re: amortization 360 vs 365 Days If they are doing an actual day (365 days per year) calculation then it is very possible that they are assuming actual days for each month rather than a month being 1/12 of a year.
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The first rule, known as the 365-day rule, is predictable.. Processing times at the U.S. Department of Labor (DOL) show that LC processing.
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When I started banking as an examiner in the mid-1970s many states had very restrictive usury limits. Using the 365/360 method slightly increased the yield on the loan. For a $1,000 loan at 6% the daily interest factor using a 365 day calendar is $.16438. The daily interest factor for the same loan using the 360 day calendar is $.16666.
If you truly mean 360/365, the annual rate would be converted to a daily rate based on 365 days per year: either annualRate/365, or (1+annualRate)^(1/365)-1. And perhaps the periodic interest would be (360/frequency)*dailyRate, where "frequency" is the number of periods per year.
Select which worksheet to use based on how the Daily Interest Accrual is determined (360/365, 360/360, or 365/365) on the borrower’s promissory note. FSA calculates and pays interest on either a straight 365 or 360 daily interest accrual method. When the interest basis is 360/365, FSA pays on a straight 365 calendar-day basis.
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Amortizing at 30 day / 360 Principal is 145.09 Interest is 1032.50 and total payment is 1177.59 Amortizing at 31 day / 365 Principal is 125.28, Interest is 1052.30 and total payment remains 1177.59 The difference in interest paid is important in this scenario.
The age-old rule observed by dairy farmers was a target use of 2′ per day. For a typical 6 month winter, this means a dairy needs around 360′ of clamp or about 110m. An AD plant runs 365 days a.