CheckMy Loans 2000 Screen Index

Loan account set up screen
SUMMARY: Create, edit new loan terms to be able to compare costs and difference between alternative loan packages in later screens and reports. Select an account by clicking the row and move to the toolbar. Click a graphics icon on the toolbar to open a report or loan calculator. Loan terms are automatically sent to the Loan register (next screen) for calculations of amortization and creation of loan report. Loan set up allows optional APR or I/360, I/365 or I/366, I/12 (monthly) interest rates, final balloon payments, differing loan draw and repayment start date plus lender name and address details.

Loan Register – Repayment Records, Interest & New Balance Calculations
SUMMARY: The Loan register calculates interest and loan repaid every month for which you enter a repayment transaction through the Enter or Edit buttons. The register starts with rows 0 & 1 calculated and then you create each new amortization row one at a time by entering monthly transactions. You can split monthly repayments and edit repayment rows to change the values and recalculate the repayment schedule, change the repayment amount and recalculate full term interest charges, change the interest rate at any period in the repayment period and recalculate, and you can enter costs and charges as additions to the loan. If you want to create a complete repayment schedule report quickly without entering multiple row transactions, use the Repeat (entries) button.

Loan report screen
SUMMARY: The Loan Report summarises up to date loan repayment transactions, interest costs, and remaining balances resulting from the most recently entered transaction. Recalculates the full repayment period every time you call Report after a transaction is entered or changed. In the demo screen, the loan interest has been reduced in month 8 but the monthly repayment stays the same. The repayment period is cut from 300–8 months (292) to 177 months in these circumstances. The net results of any combination of higher (or lower) repayment terms and higher or lower interest rates can be recalculated from any period with Loans 2000. You can calculate the entire savings with this repayment option by using the Recalc screen.

Full amortization tables
SUMMARY: Clicking the Tables graphic icon on the toolbar starts the amortization calculations of the loan you have selected in the loan account screen. Calculations move automatically to the end repayment period entered in loan account set up.

30 loan calculators
SUMMARY: Smart mini calculators answer any question about loan repayments. Find out how to reduce interest costs, check remaining loan payment periods, calculate the interest savings if you make an early repayment, what extra costs are involved if the loan period is extended or the repayment amount reduced.

How much can I borrow?
SUMMARY: Calculate how much you can borrow with a given monthly repayment amount assuming an interest rate.

I want to reduce my interest costs
SUMMARY: Calculate how much you need to increase monthly repayments to achieve a given savings target.

Consolidation of loans
SUMMARY: You can select two or more loans entered into the Loan account set up screen (first screen), input a new interest rate and repayment terms and instantly calculate the reduction in you monthly repayments.

Find loan term
SUMMARY: Enter the outstanding loan balance, interest rate and monthly repayment amount and this calculator checks how much longer you have to repay the loan.