How to calculate the monthly accrual on a home loan?
Let’s look at each method individually before comparing them side by side. Calculate the Monthly Accrual Rate: Multiply the daily accrual rate by 30 to get the monthly accrual rate: .011% * 30 = .333%. Using the 30/360 accrual method, $8,333,33 of the month one payment is applied to interest and the remaining $16,977.95 is applied to principal.
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