LoanMaker SP 23D for Palm Handhelds
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PROM is proud to announce the LoanMaker SP 23D program for Palm-Powered Handhelds.
This program calculates payments for complex loans with 'teaser' initial interest rates.
Payments can be skipped during any month over the term of the loan. The LoanMaker SP also computes 'no interest/no payment' loans where no interest is charged during the initial period. For both types of loans, the buydown cost is calculated. |
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This sample monthly loan is for $100,000 at 5.00% for ten years. For the first year, the interest rate is only 0.9%. No payments are to be made during the months of July and August. The first payment is due June 1st and there is a $250.00 prepaid finance charge which is added to the loan amount. |
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After the entries are made and [Calc Loan] is tapped, the computed payments and A.P.R. are displayed. |
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By tapping [Details] you can view the full details of the loan. The information required for a full Truth-in-Lending disclosure is presented. For illustration purposes we've shown the full Details as if it were on a single screen. On a handheld device, you would scroll up and down to see the entire Details section. By tapping on [Copy] at the top of this screen, you can copy the Loan Details screen to the Palm's clipboard. The Loan Details can then be pasted into a memo or note on the Palm for future reference. Tapping [OK] returns you to the above screen. |
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By tapping on [Am Schedule] you can view the loan amortization schedule. The entire loan is amortized and you can scroll up and down it by dragging the scroll bar on the right. The ending balance is shown for each month. If no payment is due in a month (because it was skipped), an 'x' appears after the date. The ' §' symbol shows where the interest rate changed from the initial teaser rate to the normal rate. By tapping on [Copy] at the top of this screen, you can copy the entire Amortization Schedule to the Palm's clipboard. It can then be pasted into a memo or note on the Palm for future reference. [On some Palm's, the clipboard is not big enough to hold the entire amortization schedule for long loans.] |
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You can control several options on the Setup screen. Three different interest calendar systems are available -- all U.S. Rule with escrowing for accrued and unpaid interest. Computed payments can be rounded to the nearest cent or truncated to the lower cent. You can select a prepaid finance charge and choose whether to add it to the loan amount. The Always Run LoanMaker SP option makes this program the sole application that will run on a Palm. |
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Demonstration Version & How to Order the LoanMaker SP 23D Click here to download a demonstration version of the LoanMaker SP 23D. To order the LoanMaker SP Program for your Palm Handheld, you need to either 1) download the demonstration version of the program (see above) and install it in your Palm, or 2) 'Beam it' from another Palm that already has the LoanMaker SP program installed in it. Then go to the About/Register screen (see left) and copy your Product ID number from that screen to this order form and fax it to us at 866 329-7766 (or call us at 800 843-7766) to place your order. You will then receive an Authorization Code which you need to enter on the About/Register screen. |
23 Aug 2007