365/360 Loan
Description
 Calculates a 365/360 loan with amortization table.
Rows  Loan Amount: Amount of the loan.
 Interest/Yr%: Annual interest rate expressed as a percentage.
 Loan Years: Number of years 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.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. Pinch to zoom and see larger numbers. In addition, the amortization table is attached to any emails sent. (Available on iOS devices only.) 365/360 Rate%: Interest rate for 365/360 payment terms.
The formula is derived from here

Permalink: 09a8f8b72e
Category: Finance
Examples

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: MonthlySelect '=' on Payment row. The monthly payment is $6,780.05.