Commercial Mortgage

# 360 Day Interest Calculator

### Contents

Banks most commonly use the 365/360 calculation method for commercial loans to standardize the daily interest rates based on a 30-day month. 1 To calculate the interest payment under the 365/360 method, banks multiply the stated interest rate by 365, then divide by 360. However, due to the numerator and denominator not matching, the 365/360. Because this calculator is date sensitive, and because it supports many compounding options, it is a suitable tool for calculating the compound interest owed on a debt. You can use it to calculate accrued interest from a point in time when the balance is known.

Simple Interest Calculator at WebMath.com – This calculator uses the simple interest formula and explains it well (it’s not just an "easy" calculator). How Does Simple Interest Work at mtgprofessor.com – An explanation of simple interest loans and mortgages. Simple Interest Examples at MoneyInstructor.com; The 360-Day Year – at mtgprofessor.com

Amortized Paid Date is a repayment plan that consists of both principal and interest. Payments are usually divided into equal amounts for the length of the loan. Amortized Due Date is amortized and interest is collected through the due date. Interest Only Loan is a payment plan that covers only the interest amount of the principal.