Loan Amount =

Interest/Year =

Term =

Payment =

Payment Timing = 12

365/360 Rate =

Begin Period = 1

End Period = 1

Interest Paid =

Principal Paid =

Payment Paid =

End Balance =

Amortization Table =

Calculates a 365/360 loan with amortization table.

- Loan Amount: Amount of the loan.

- Interest/Year: Annual interest rate expressed as a percentage.

- Term: Number of years or months for the loan

- Payment: Periodic payment amount. How often this amount is paid is indicated by Payment Timing.

- Payment Timing: How often payments are made.

Note that this template compounds interest at the same time as the payment. This is different than the Mortgage or Auto Loan templates, for instance.

- 365/360 Rate: Interest rate for 365/360 payment terms expressed as a percentage.

Amortization

- Begin Period: Starting period to calculate the amortization information.

- End Period: Ending period to calculate the amortization information.

- Interest Paid: Total interest paid over the amortization period.

- Principal Paid: Total principal paid over the amortization period.

- Payment Paid: Total payments made over the amortization period.

- End Balance: Balance at the end of the amortization period.

- Amortization Table: Select to display a table of amortization results.

The formula is derived from [http://www.mrexcel.com/forum/excel-questions/415669-amortization-360-vs-365-days.html|here]

A loan for $350,000 at 6% interest over 5 years needs to be repaid monthly. How much is the payment on a 365/360 basis?

- Loan Amount: 350,000.00

- Interest/Yr%: 6.000

- Loan Years: 5.0

- Payment Timing: Monthly

Select "=" on Payment row. The monthly payment is $6,780.05.

Loan Amount

Interest/Year

Term

Payment

Payment Timing

365/360 Rate

Begin Period

End Period

Interest Paid

Principal Paid

Payment Paid

End Balance

Amortization Table

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