You can use the Loan Calculator on The 86it Developers Network to setup a loan anytime you like.
email : scottybcoder@gmail.com
author: Truman Scott Buffington
This method has seen its day in court because borrowers challenged that this method is deceptive and hides from borrowers the true cost of borrowing. However, the lenders prevailed due to the fact that it was fully disclosed how they are calculating interest. Thus, Actual/360 is an interest calculating method that is here to stay.
When using the Actual/360 method, the annual interest rate is divided by 360 to get the daily interest rate and then multiplied by the days in the month.
With this module you can print out a payment schedule for any intrest rate and loan amount.