Monthly Schedule of Mortage with Overpayment Option

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Screenshots - Monthly Schedule of Mortage with Overpayment Option

Monthly Schedule of Mortage with Overpayment Option atari screenshot
Monthly Schedule of Mortage with Overpayment Option atari screenshot
Monthly Schedule of Mortage with Overpayment Option atari screenshot
Monthly Schedule of Mortage with Overpayment Option atari screenshot

Information - Monthly Schedule of Mortage with Overpayment Option

GenreAccounting / Business / Finance / IncomeYear1990
LanguageGFA BASICPublisher[no publisher]
Developer-Distributor-
ControlsKeyboard, MouseCountryUSA
Box / InstructionsEnglishSoftwareDutch
Programmer(s)

Riesbeck Jr., Alvin F.

LicensePD / Freeware / Shareware
SerialST TypeST, STe / 0.5MB
ResolutionMedium / HighNumber of Disks1 / Double-Sided / HD Installable
Dumpdownload atari Monthly Schedule of Mortage with Overpayment Option Download / MSAMIDI
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Instructions - Monthly Schedule of Mortage with Overpayment Option

Declining balance loan with over payment option
Programmed by Alvin F Riesbeck
copyright 1990

    The purpose of this program is to calculate the 
remaining outstanding balance for each payment month of a
standard declining balance loan.   This program is different
from most other standard  mortgage programs because of the
over payment option.

	My father tried, for years, to tell me to save money and
repay outstanding loans early.  I always assume that a small
overpayment never did much to the remaining balance.  But, I
have been playing with this program for a couple of years 
after I found out I could save lots for money by over 
paying even a small amount each month.  As little as $5.00 a
month will save thousands of dollars over a 30 year loan.  If
you are buying a house or paying for you current house,
running this program with different payment and over payment
amounts will give you a good idea of time required to pay off
the loan and a summary of interest you will be paying. This
program does not take into account the action of federal or
state taxes.

P.S. I never will tell my father he was right, but somehow I
think he knows.

   The program assumes monthly payments, the interest rate
and the overpayment amount will not change over the life of
the loan, the loan will be paid off in 30 years or less. The
over payment amount can be any dollar value.  The starting 
point for the program does not have to be the beginning 
balance of the loan, but can be any dollar amount that is 
equal or less than the beginning balance.  The program
includes routines that will calculate the monthly payment
amounts for 10, 15, 20, 25 and 30 years. It also has a
routine that will calculate any yearly payment amount for 1
through 30 years.  I have edit routines to prevent the user
from imputing replies the program can not handle.  The
program will output its results to the screen or the screen
and printer at the same time.

The disclaimer:

	As with all programs release into the public I must state
that you are using this program at your own risk.  I do not
claim that any repayment schedule your loan has will match
the output from this program.  I believe the results should
match the repayment schedule, but I cannot control the terms
of your loan.  You should make sure you can overpay on your
loan without penalty.  I am only presenting the results from
this program as a guide for your use.  I did not put anything
in this program which will cause damage to your computer,
disk drives or any other piece of equipment attached to your
computer system.

My Pitch:

	As far as I am concern, this program is finish.  Their
are some more things I could do to the program, but I have
other more interesting projects to do.  Therefore,  If
enough people send me a reason to do more to this program I
probably would.  

1.  If this program open your eyes to the possibility of
saving money by early repayment, you could donate to my
computer fund.

2.  If you want the source code it is going to cost you some
money, $15.00.

3.  If you have a GFA basic program you wrote and it is as
complex as mine, I will trade source code with you. 
Remember, something you wrote.

4.  If you like or hate the program, but think your computer
fund is more important than mine, why not send me a post card
and tell me what you like/hate about the program.

5.  Finally,  if there are some business programs you would
like to see developed, why not tell me about them.  I could
always use new ideas.

Alvin F. Riesbeck
Lock Box 562
Hines ILL 60141

Program responses:

Question 1.	Enter current balance of loan =

			Enter the starting point for the program to
			calculate remaining amount due.  Must not
			contain a comma and must be equal to or less
			than original balance

			Example 44949.56

Question 2.	Enter original balance of loan =

			Enter the original amount of your loan.  Must
			not contain comma and must be equal to or
			greater than the current balance

			Example 50000.00

Question 3.	Enter amount of yearly interest =

		   	Enter the yearly interest rate of your loan

			Example 10 percent
			can be entered as .10 or 10.0

Question 4.	Monthly payment for 10 year loan is x,xxx.xx
			Monthly payment for 15 year loan is x,xxx.xx
			Monthly payment for 20 year loan is x,xxx.xx
			Monthly payment for 25 year loan is x,xxx.xx
			monthly payment for 30 year loan is x,xxx.xx

			If you want to use the above monthly payments
			amounts as your mortgage schedule enter y or Y
			else any other key.

			A response of y or Y will display the
			following and then go to question #7
			any other reply will proceed to question #5


			The 30 year payments will be the first column
			The 25 year payments will be the second column
			The 20 year payments will be the third column
			The 15 year payments will be the fourth column
			The 10 year payments will be the fifth column
			in the generated payment schedule.

			Note:  If you want a loan repayment with
			an overpayment option you should not reply
			y or Y to this question. 


Question 5.	If you know the monthly payment you want enter
			that monthly payment amount else enter 0 zero.

			Note: you could use question 4 payment
			display as a guide for payment amounts. 
			Example: suppose you are calculating a 25 year
			loan.  You should not reply y or Y in question
			4 and reply with the monthly payment for a 25
			year loan for question 5.  The amount of over
			payment will be requested in question #6. 

			Any dollar amount will be accepted that will
			pay the loan off in 30 years or less.  a reply
			of 0 (numeric zero) will generate the following
			question.

			Enter the number of years to pay the loan off,
			the monthly payment amount will be calculated
			and displayed.

			At this point you can only enter a two digit
			year.  Valid years are 1 through 30.

Question 6.	Enter amount of over payment increment =

			For each over payment column the monthly
			payment amount will have the following amounts
			add to it.

			A zero or negative entry will cause all over
			payment amounts to be set to zero. 

			An entry greater than zero will cause the 1st
			over payment amount to be set to that value,
			the 2nd over payment amount to be set to two
			times the entered value, the 3nd over payment
			amount to be  set to three times the entered
			value, the 4th over payment amount to be set
			to four times the entered value.

			Example entered is $7.50,
			1st amount = monthly payment + 7.50,
			2nd  amount = monthly payment + 15.00,
			3rd amount = monthly payment + 22.50,
			and 4th amount = monthly payment + 30.00

			Note: monthly payment
				 is answer from question 5.

Question 7.	Starting month of first payment

			January   1    February   2    March     3
			April     4    May        5    June      6
			July      7    August     8    September 9
			October  10    November  11    December 12

			Enter as a numeric value

			Will cause the repayment schedule for the first
			year to start with the month selected.
			Example the number 9
			will start payments in  September

Question 8.	Enter starting year    Example 1990

			Enter calendar year you want your repayment
			schedule to start.

Question 9.	Do you also want a hard copy on printer
			enter character y or Y for yes or return
			for no hard copy

			A reply of (y or Y) will give you a screen and
			hard copy of repayment schedule.

			the program uses GFA Basic LPRINT.

			Return will only display repayment schedule
			to monitor.

Question 10.	If you only want the summary report
			replay y or Y else press return for
			the monthly detail report.

			Replay of y or Y will only generate the summary
			report by passing the yearly payment detail,
			Return will display the yearly detail followed
			by the summary report.

Note:		After question 10, the 1st yearly detail or
			summary page will appear.  To display the next
			detail or summary page press return.  To stop 
			the schedule payments display  enter (q or Q).

			After the summary page or an entry of (q or Q)
			An alert question will asked if want another
			calculation.  Clicking on no will terminate 	
			the program, clicking yes will restart at 	
			question 1.
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