Should the odd days interest section be the same for all payment streams (first payment, monthly payment, balloon payment).

Ex: first monthly payment is $100 - with 3 odd days of interest
monthly payments of $80
Balloon payment of $16,000

APRWin continues to put the 3 odd days into each payment stream and when i take out the 3 odd days from the monthly payment and balloon payment i get an APR violation, but no violation if the odd days interest is on each payment stream

Are you saying that each payment period gets 3 days longer than the one before it (i.e. - 30, 33, 36, 39....)?

No, each payment stream would show 3 odd days of interest (so 33 days for each payment stream.) It doesn't make sense why the program would autogenerate the 3 odd days of interest for the second payment stream which has 10 payments because they are whole unit payments (every first of the month payment is due).

I enter the first payment stream amount, number of payments, 1 whole unit period, and 3 odd days. I enter the second payment amount, number of payments, 1 whole unit period and at this point APRWin automatically inputs 3 odd days interest on the second payment stream and the same for each subsequent payment stream added.

I believe it does carry those odd days throughout the payment stream (if memory serves me correctly)...why, I'm not sure...maybe Richard will stop back thru...he'll know the "why" part!

Each payment stream is not 33 days long, only the first one. After that, payments are scheduled on the same day of each month and payment periods are exactly one month long. As required by Appendix J, APRWIN measures time backwards--from the date of the first payment in each payment stream back to the date of consummation.

What I meant was not 33 days long...just that the 3 odd days shows in the "odd day's" box for each stream.

If you saw anything other than "### unit periods + 3 odd days", you'd have a data entry problem. Counting backwards from any anniversary date of the first payment, you'll have more whole months, but the 3 odd days are always there. You're getting confused by thinking forwards in time. That's not how Appendix J works. Its formulas and calendar measurements are designed to produce net present values--all dollar amounts at all points on the time line are restated in consummation date dollars.

Thank you both for the discussion. That really helps