This is a program that does it - Major calculation. Its' purpose is to
take a set of Debt/Loan balances (up to 10) and calculate the number of periods/months
of payments left until each loan is paid off. You may ask, "what' so great about that?"
The answer? There are seperate methods for repayment for the paying of Debts/loans.
The methods are:
1. The normal method by paying the minimum plus a little extra, each month until all
loans are paid off - including a home mortgage.
2. The second method is to pay theminimum on each loanregularly plus a little extra on
each of the loans; as the first loan ispaid off, its' paymentis added to the second
loan'spayment until the second loan is paid off, and then thefirst and secondloans' payments are added to thethird loan's payment - and so on and so forth. Confused? See the screen shots below.
With two button clicks, the applicationcalculates each of the two repayment methods, showing the periods/months in whicheach loan will be paid off. See the screen shots below. There are three screenshots of reports. (1) Present Loan Balances Owed. (2) Debt Elimination using normal repaymentschedule. (3)Calculation of Loans Using Accelerated Debt Elimination Process.
The the report below, is called "Present Loan Balances Owed". It'sbeencropedto fit the screen The reportlists the Debts,amountowed, interest rate, and monthly/period amount. At the bottom the reportis listed the total amount of all the loans as well as the total amountpaidon all loans. Incidently, each report'sHeadingwill be given the name you specify for your Company.
The report below, is called"Debt Eliminationusing normal Repayment Schedule". This report shows the results of repaymentofthe loans if each loan was paid without any extra monies. So, looking at thereport, the loans would be paid off in 43, 63,57, 174, and 360 months/periods respectively.
The final report below, is called "Calculationof Loans Using Accelerated Debt Elimination process". This reportshowsthe results of repayment of the loans using the process described above which isaddingeach loan's payment to the next loan as the first loan is paid off. Thustheloanswould be paid off in the following amount of months, 43, 52, 54, 77, and 124 respectively. Notice for example the Mortgage is paid off in 124 months (about 10 years), insteadof 360 months (30 years).
Thebelow screen shot shows the form used for inputing the loan data. A totalof ten(10) loans can be entered. The data for each loan is input one time only. If more more than ten loans need be entered,then the application can be modifiedto achieve this.
This program is used to show clientshow to get out of debt and in the process,save money by not paying all of that intereston longterm loans. This program is atoolfor the Entrepreneur.
If you wouldlike to purchase this program, just click on the PayPal buy button belowfordetails:
If you wouldrather not use the PayPal buy button, you can order the program by sendinga check or money order for $78.00 to theaddress below:
Orchid City Software 355 S. Romero St. Clewiston, FL 33440, USA