Accuracy and Computational Standards
Loan interest has its own world of rules, and PerSense can be configured
to emulate all the major and minor standards that are commonly applied:

  • 360- or 365-day basis (365/360 also supported)
  • Points applied at settlement
  • Monthly, weekly, or daily rates
    •  (also quarterly, biweekly, bimonthy, semi-monthly, and semi-annual payments
  • Canadian rates
  • Bond yields
  • Variable rate loans
  • American rule (simple interest)
  • Rule of 78
  • Interest in advance or arrears
  • Prepaid interest at settlement, or partial month's interest amortized over the life of the loan

Computational integrity and absolute accuracy are our first concern. 
Major legal and accounting firms rely on results from PerSense.  You can, too