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**** AMORTIZATION SCHEDULE ****
Written by: John Milcetich
ARAS.CALC--An Adjustable Rate
Amortization Schedule for the C-64
Commodore Microcomputers, June 1985
Page 96
In the past few years, loans which
operate on an adjustable interest rate
have gained in popularity. As the
loan is paid off, the interest rate
is allowed to fluctuate within certain
limitations. If the interest rates
begin to soar, borrowers will find
that their low monthly payments have
escalated into an unmanageable burden.
This is why borrowers will want to
predict the possible changes in their
payments. For example, they will want
to find the worst case possible (i.e.
the interest rate reaches the maximum
allowed).
ARAS.CALC was written to help
investigate the possible amortization
schedules for various types and
amounts of loans. It also allows for
various types of 'pre-payments'.
When the program is run, you will
be asked to input the following:
1. The initial loan amount. This is
the amount you intend to borrow.
2. The number of years to repay the
loan. The maximum number of years
is 50.
3. Number of years to project. This
will tell the program how many
years to forecast for the amount
of monthly payments.
4. Interest rates. For each year
projected, type in the interest
rate as a decimal (.13 = 13%). If
you want a constant rate, just
enter a negative number. This
will cause the previous interest
rate to be used in all further
calculations.
5. Additional payments. If you are
going to have additional
payments, you will be presented
with a menu of options.
After your totals are computed and
printed, you will be given a chance to
modify your current data.
This program is copyrighted by
Microcomputers Magazine. All rights
to it are reserved. LOADSTAR has
relieved you from the burden of keying
in this program.
For more complete
information about this program, refer
to the June 1985 issue of
Microcomputers Magazine.
>Files used: ARAS.CALC
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