Author Topic: Math Problem  (Read 10512 times)

Peter

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Re: Math Problem
« Reply #15 on: January 19, 2013, 09:25:37 AM »
Daglibe, I know I am coming in late to this discussion but this is a question many investors have at some point. I wrote a post about this a few months ago that might be helpful:
http://www.lendacademy.com/do-you-understand-how-interest-is-calculated-on-p2p-loans/
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yojoakak

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Re: Math Problem
« Reply #16 on: January 24, 2013, 02:35:42 PM »

Sorry for the cross-post, but does anyone know if Lending Club uses the same 30-day calculation?

I've been trying to figure that out but it's proving to be a bit of a challenge.

My current best guess is they use 30/360, but the numbers only really work for higher value notes, i.e. $500 or $1000 notes. $25 or $100 notes can be off by quite a bit.

See more here: http://www.lendacademy.com/forum/index.php?topic=595.0