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LII.doc
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1987-06-25
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LOANS
=====
This program is intended to simplify your loan calculations. Any-
one of four loan values may be calculated, given the other three
standard values. The program may be used for standard loans or
mortgages, by altering the compounding period. You will be pro-
vided with a schedule of your loan payments. Any of the four loan
values may be altered for any period(s) and the schedule recalc-
ulated. Lumpsum payments may be made, with or without payment re-
calculation. Other recalculation scenarios are possible, see the
list of examples following the gadget explanations. Finally, you
you may print out a copy of your schedule, starting with any per-
iod you desire.
Gadgets:
========
Rate - This represents the nominal interest rate payable on a
yearly basis.
Payment - Your monthly loan payment.
Term - The number of monthly loan payments, maximum 300.
Principal - The original outstanding value of your loan.
Compounding - The number of times that interest is compounded per
year on your loan. Zero represents simple interest.
Most loans are calculated using simple interest,
while most mortgages are compounded semi-annually.
Period - The period in which you wish to change one of your
four original values. Also the period which the
print out will begin. You must select a period to
change before making any re-calculations.
NOTE: The left mouse button may now be used to sel-
ect this feature.Simply point to the period desired
in the schedule and click the mouse button.
Calculate - Used to start the calculation of the fourth value.
This is also used to re-calculate values once any
changes have been made.
Print - Dumps your schedule to a printer.The print out will
begin with the period entered in the Period Gadget.
Date - The date the first payment is to be made.Entered as
follows, 'JUN 1987'. The month must be any standard
three letter abreviation, capitals are optional.The
year may be '0', '1987' or any other numeric value.
Lumpsum - The prepayment you wish to make on your loan. This
may be entered for any period(s). This may be used
with or without re-calculation.
Menu Items:
===========
About - A requester showing shorter explanations of the gadgets
listed above.
Reset - Returns all variables to their original value. This will
also erase your existing loan schedule, BE WARNED!
Quit - Self explanatory. This is also available in the output
window by selecting the close gadget. Remember, YOUR DATA
WILL BE LOST!
Title Bar:
==========
Should you make an incorrect selection or produce a value outside
of the programs range, you will be notified of your error in the
window's title bar. This should prevent any visits from the GURU.
I HOPE.
Examples:
=========
The standard calculations are fairly obvious, but let us look at
some of the more obscure possibilities.
Having made your original calculation, you would like to make a
Lumpsum Payment at some point in your schedule. Assuming your
Lumpsum Payment will not affect your payment (unlikely) all you
have to do is:
(1) Enter the period your payment is to take place.(Mouse option)
(2) Enter your Lumpsum Payment.
(3) Select the Calculation gadget.
Given the same conditions, let us assume your payment will be re-
calculated. This is the procedure to follow:
(1) Enter the period your payment is to take place.(Mouse option)
(2) Enter your Lumpsum Payment.
(3) Enter ZERO '0.0' for your payment.
(4) Select the Calculation gadget.
The same principal may be applied to any of the four values. If
you wish to re-calculate a value after a change,simply enter Zero
for that value and select the calculate gadget.
One more practical example.
Assume your original values have been entered and your schedule
produced. Now you wish to change the Interest Rate in Period 13
(Year 2),make a Lumpsum Payment and have your Payment calculated.
Here is the procedure.
(1) Enter the period to change.(Mouse option)
(2) Enter your new Interest Rate.
(3) Enter your Lumpsum Payment.
(4) Enter Zero for your Payment.
(5) Select the Calculation gadget.
This order need not be specific, except that you must select the
Period to alter first and the Calculation gadget last. The com-
pounding period could also have been changed.
Although this program is designed to calculate monthly Loan
Payments it is possible to use it for other than standard loans.
Let us say that your payments are to be made bi-monthly, all you
need to do is enter twice the nominal yearly Interest Rate.If the
Payments are to made yearly, the Interest Rate that you enter is
12 times the nominal yearly rate. Of course your print out will
not be correctly formatted.
HISTORY
=======
This is my first C program. The project was originally started as
an exercise in programming. It has grown from a simple user in-
put program to the Intuition based program you now see. The pro-
gram has undergone several revisions and GURU hunts, as I learned
more about the Amiga's operating system. I hope you find it use-
ful.
I have considered a couple of future additions, including file
capabilities and a detailed mouse based selection system. This would make the user's changes much simpler.
Should you have any suggestions,GURU reports or complaints, I can
be reached on:
Compuserve as 75126,2614.
OR
GENIE as CMORROW.
OR
Craig Morrow. (Assistant Sysop)
AMIGA INTUITION BBS (The BBS of CLUB AMIGA)
Toronto, Ontario
416 654 8847
Special thanks to Chris Siebenmann for his help with the GURU.