Interest Calculator Help

Topics

Setup
Enabling Classic View
Printing Images
Resolving Residual Balances
Setting the Amortized Base
Setting up the Amortization Report
Setting up the Daily Interest Report
Setting up the Savings Interest Report
Using Use Defaults
Using Stay On Top

Operation
Calculating an Amortization Schedule
Calculating Daily Interest
Calculating Payment Amounts
Calculating Savings Interest
Calculating the Number of Payments
Previewing Reports and Amortization Schedules
Printing Reports and Amortization Schedules
Registration




Setup





Setting the Amortized Base

The amortized base is a number that is used to calculate the long term amortization of a loan. Most lending institutions use an amortized base of 365, but there are some that use 360. To change the amortized base, make a choice from the Amortized Base drop down box.



Resolving Residual Balances

Often when loans are amortized using the industry standard formula, there is a small residual principal balance left over after all of the predetermined payments have been made.  If you want to have an additional payment added to the amortization to  pay off the residual balance, select the Increase the number of payments radio button.  If you choose to force the payment amount to increase until the loan will be extinguished within a specific number of payments, select the Increase the payment amount radio button.  



Printing Images

An image representing your company's logo may be printed at the top of each of the reports. The maximum size for this image is 50 x 190 pixels. To use an image on the reports, first check the Print Image checkbox. Then, using the button provided, browse to the image file that you want to associate to the report. Image printing is not applicable when using the classic view.



Enabling Classic View

The Rich Text versions of each of the reports that were supplied with previous versions of the Interest Calculator can be used by selecting the Classic View checkbox. However, several of the new options for reporting are not available when classic view is selected.



Setting up the Amortization Report

Enter values into the Title and Loan Type fields to change the values of these descriptions on the amortization report. By default, the annual and overall totals for the payments, principal, and interest print on the amortization schedule. Deselect the Print Annual and Overall Totals checkbox to avoid printing out these totals.



Setting up the Daily Interest Report

Enter values into the Title and Subtitle fields to change the values of these descriptions on the daily interest report.



Setting up the Savings Interest Report

Enter values into the Title and Subtitle fields to change the values of these descriptions on the savings interest report. By default, the annual and overall totals for the payments, principal, and interest print on the savings interest report. Deselect the Print Annual and Overall Totals checkbox to avoid printing out these totals.


 
Using Defaults  

By checking the Use Defaults menu item, the loan type will be read from the options page and the origination date for the amortization will be assumed to be the current date. When the Use Defaults menu item is left unchecked, a dialog box will prompt for the loan type and origination date.


Using Stay On Top


By checking the Stay On Top menu item, the application will always stay on top of other applications.



Operation

Calculating Payment Amounts

Complete the principal balance, interest rate, number of years, and number of months fields and then click the calculate button in order to figure the payment amount of a loan.

Calculating the Number of Payments

Complete the principal balance, interest rate, and payment amount fields and then click the calculate button in order to figure the number of payments to extinguish a loan.

Calculating an Amortization Schedule

Complete the principal balance, interest rate, payment amount, number of years, and number of months fields and then click the calculate button in order to figure all of the fields necessary to view an amortization schedule.

Calculating Daily Interest

Complete the number of days, principal balance, interest rate, and payment amount fields and then click the calculate button in order to figure the daily interest variables.

Calculating Savings Interest

Complete the beginning balance, interest rate, frequency compounded, number of years, and number of months fields and then click the calculate button in order to figure the amount of savings interest earned.




Printing Reports and Amortization Schedules


After performing a calculate operation, click the print button or select the print menu item to print a report or amortization schedule.



Previewing Reports and Amortization Schedules

After performing a calculate operation, click the print preview button or select the print preview menu item to print preview a report or amortization schedule.



Registration


To register the Interest Calculator select Register Interest Calculator from the Help menu. At the prompt, enter the 16 character registration code. To obtain a registration number contact Markosoft at info@markosoft.net.