365/360 Loan Calculator
Loan Amount =
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.
- 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.