The payment in the example above was calculated with the Actual/365 calendar, and the A.P.R. with the Fed Calendar.  The $25 loan fee is financed and affects the A.P.R.

Now, professional-quality payment calculations are available for the Palm Handhelds.

The LoanMaker 23A program will calculate loans up to $50,000,000 accurately.

The LoanMaker 23A supports the Actual/365, Actual to first payment, and Federal Calendars.   See Sample Loans for more information.

It also supports Prepaid Finance Charges.

Extensive help is built into the program -- no more looking for the User's Guide!

The payment dates are shown in the left column, and the balance after the payment is made in the right column.  Loans up to 360 months can be amortized.

The loan is amortized using the calendar system selected on the Setup screen (see below).

Detailed help is provided on each of these options in the program.  See below for an example of the Calendar Systems Help screen.

We invite you to download a demonstration version of this program here.  

The demonstration version is fully functional with the exception that the interest rate is fixed at 5.0%

First, download the demonstration version of the program by clicking here and install it on your Palm Handheld.

To obtain the Product ID number for your Palm Handheld, run the demonstration program and go to the About/Register screen which will look like the image to the left.

Copy your Product ID number from that screen to this Order Form.

• Actual/365
• Actual-to-first-payment
• "Fed" Calendar.

To illustrate the differences, we've selected the following sample loan and have computed it using each of the three systems:

• Loan: $125,000
• Term: 180 months
• Rate: 15.000%
• Loan Date: 5/25/04
• First Due Date: 7/1/04
• Payment is Rounded (not truncated)

The following table shows the payment calculated by each of the three calendar systems.

For more information and detailed amortization schedules of these methods, you can download an Excel spreadsheet here.