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I need to know how to figure out the daily interest rate

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suzietrail Joined: 22 May 2009 Posts: 1 1.24 Dollars($)	Posted: Fri May 22, 2009 10:56 am    Post subject: I need to know how to figure out the daily interest rate annual interest rate is 5.298%. Last payment was 4/21 09 and I want to pay off $45,604.63 as of today.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 9749 Location: bloomfield, ct 35.02 Dollars($)	Posted: Fri May 22, 2009 11:14 am    Post subject: balance times rate divided by 360 or 365 (depends from lender to lender) - figure on 360 - times the number of days elapsed (4/21 to 5/22). _________________ George M. Akerley Loan Consultant 860-221-5044

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