The loan interest information is required to calculate the interest portion
of your payment and establish your payment schedule.
What is the compounding period?
The frequency interest is compounded on the loan, such as annually, monthly,
weekly, or exact days. The compounding period affects how much interest is owed
on the loan. The more frequently the interest is calculated, the higher the
What is the compute period?
How do I know if my lender uses 365 or 360 days for computing
You can change this information at any time by clicking Edit Loan Details in
the Loan Manager window. For example, if you have an adjustable-rate loan, you
can change the interest amount here when it changes for your loan.