Appendix J: Actuarial Method
{"Image DocumentName": "Appendix J: Actuarial Method", "Image ImageDescription": "Fractional unit periods (Cont\u2019d) If unit period = a semi-month or a multiple of a month not exceeding 11 months, the number of full unit periods and the remaining fraction of a unit period shall be determined by dividing the number of days between two dates by 15 in the case of a semimonthly unit period or by the appropriate multiple of 30 in the case of a multi-monthly unit period. March days. 30 days + 1 unit period. (120 days/30 = 3 months + 30 days) February 12. July 1. October 1. Pmt 1. Pmt days + 30 days = 47 days = 47/90 fractional unit period. Loan date = February 12. Payments due quarterly, beginning July 1. July 1 \u2013 March 1 = 4 full months = 4 x 30 = 120 days. February 12 \u2013 March 1 = 17 days = 137 days; 137/90 = one unit period (90 days)+ 47 days to the first payment = one unit period plus 47/90 fractional unit period.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}