ToolsForMonkeys.com
Payoff and Per Diem Calculator
Fund Date: ,
Payoff Good Thru Date: ,
Payoff Amount:
Per Diem (Daily Interest):
Number of Days Past Funding:
Actual Days Added:
Per Diem Added:
Total Payoff Amount:
Clear Notation of Calculation:
If you do not know the per diem you can enter the rate and balance information below.
Rate:%
Balance:$
Per Diem:$
Note: the per diem calculation is based on a 360 day year, this is to assure that the per diem will be sufficient to payoff any additional funds as necessary.
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What's This?
This number is the total number of days that you would like to calculate the payoff beyond your "check sent" or funding date. Typically this is any of three choices: 7, 10, or 30, with 30 being the most conservative as well as most expensive. What's This?
This area contains a quick copy/paste notation of how the payoff was calculated. It is not required to be used, but can be helpful for auditing purposes to keep a record of how exactly the payoff was calculated.