> ## Documentation Index
> Fetch the complete documentation index at: https://knowledge.uportal360.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Payment Calculator

## 365/365 Payment Calculator

UAS utilizes the **365/365** payment calculator, also called the **Actual/365**, to create loan amortization schedules

Click the link to go to our [Payment Calculator](https://universalaccountservicing.com/payment-calculator)

### Calculating Daily Interest Accrual

The 365/365 payment calculator calculates interest by multiplying the beginning balance, interest rate, and days in the month and dividing the total by 365.

**Example**
**\$100,000** Loan Amount
**4%** Interest Rate
**31** Days in the Month (May)

(100,000 x .004 x 31) / 365 = **\$339.73** interest paid in May

## UGA Finance Payment Calculator

UGA Finance has its own [Payment Calculator](https://universalaccountservicing.com/payment-calculator), which can calculate your Monthly Payment, Principal Paid, Interest Paid, and Total Payment.

The payment calculator can also be used to understand how long it will take to pay off the account. Use the `Payoff` tab to calculate remaining payments.

## Explanation

The 365/365 amortization table is utilized instead of the other common calculations, 30/360 or Actual/360, because of its accuracy. When using 365/365, you divide by the number of days in the year rather than the number of months, which creates a more accurate payment schedule.

## Video Explanation

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