Eureka Forbes loan calculator 360-day year

Borrower Beware
Monthly payment mortgages using the 365 day year, exact day monthly . held financial calculators) always uses a 360 day year calculation because of the . If effective interest rates were quoted on loans and mortgages (an they are not) the .
http://www.amortization.com/borrower_beware.htm

Explaining to my client why 360 days instead of 365 day | Wall ...
May 11, 2011 . Folks didn't have calculators back in the day. Much easier to use "round numbers, " so "360 days in a year and 30 days in a month" became the .
http://www.wallstreetoasis.com/forums/explaining-to-my-client-why-360-days-instead-of-365-day

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Day count convention - Wikipedia, the free encyclopedia
The 30/360 calculation is listed on standard loan . This method of treating a month as 30 days and a year as 360 days was . Since monthly loan payments are the same for both .
http://en.wikipedia.org/wiki/Day_count_convention

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North American Title Company - Loan Calculator
The results of this calculator may vary greatly from the results of an actual loan. Please consult your lender for the actual numbers. In most cases, a 360 day year .
http://www.nat.com/loancalc/mortgage_calc.htm

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White Paper - The Lost Art of Interest Calculation
Interest calculation White Paper. . the actual number of days during which a loan is outstanding and calculates the interest rate based on a 360-day year.
http://www.margill.com/white-paper-interest.htm

App Store - Interest Calculator
Jul 21, 2011 . Calculate complex compound interest on both loans and savings. . With support for Canadian Mortgage rules and 360 day years.
http://itunes.apple.com/us/app/interest-calculator/id373355077?mt=8

Mathematics of Finance
Simple Interest Interest on loans of a year or less is frequently calculated as . Interest found using a 360-day year is called ordinary interest and interest found . Effective Rate If $1 is deposited at 4% compounded quarterly, a calculator can .
http://www.pearsonhighered.com/lgrseries/combo/assets/images/other/lgr-combo-ch5.pdf

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