To calculate the per diem, you will **need the balance owed and the interest rate for the car loan**. For example, if the interest rate is 7 percent, (. 07), divide it by 360 and multiply the result times the balance, ($10,000). The per diem is $1.94.

## Simply so, how do I figure out my loan payoff amount?

The formula for estimating mortgage payoff is as follows: **M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1] P = principal loan amount**. i = monthly interest rate. n = number of months required to repay the loan.

You first **take the annual interest rate on your loan and divide it by 365** to determine the amount of interest that accrues on a daily basis. Say you owe $10,000 on a loan with 5% annual interest. You’d divide that rate by 365 (0.05 ÷ 365) to arrive at a daily interest rate of 0.000137.

## Moreover, how do you calculate per diem from APR?

For example, if the per diem interest is $10 and the principal is $100,000, the per diem interest rate is 0.01 percent: 100 x (10 / 100,000). **Multiply the per diem interest rate by 365** to get the annual rate. In the example, the annual rate is 3.65 percent (0.01 x 365).

## How is per diem salary calculated?

**Multiply the per diem allowance by the number of days**. For example, on a three day business trip with a per diem meal expense allowance of $50, total per diem equals 3 X $50, or $150.

## How much is Air Force per diem?

The DoD Per Diem Allowance

Per diem is specific to a given travel location and can range from a standard CONUS rate from **$155 per day to over $800 per day for OCONUS rates**.

## What does per diem mean on a job?

## What is a 10-day payoff and per diem?

A 10-day payoff statement is **a document from your lender that gives us the payoff amount to purchase your vehicle, including 10 days worth of interest**. We need this document in order to finalize your trade-in or sale.

## What is a per diem on a car loan?

Per diem interest is **the interest charged on a loan on a daily basis**—most often on mortgages. Lenders calculate per diem interest to cover the period between the time a loan closes and the day before repayment officially begins. In order to calculate the per diem interest amount, lenders may use a daily interest rate.

## What is a ten day payoff?

The amount due in your 10-day payoff is **the current loan amount from your old servicer**—that includes the principal and interest accrued up until today—plus interest that accrues over the next 10 days. Each loan you’re refinancing will have its own 10-day payoff amount.

## Whats a per diem rate?

Per diem is **an allowance paid to your employees for lodging, meals, and incidental expenses incurred when travelling**. This allowance is in lieu of paying their actual travel expenses.