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Loan Calculator
Author

Jon McLoone
Organization: Wolfram Research Europe
Department: Sales & Marketing Manager
URL: http://members.wolfram.com/jonm
Description

A palette which calculates the payments required to repay a loan over a fixed period subject to compund interest. The calculation is based on interest calculated monthly in arrears. It should be noted that this is only one of several different approaches to calculating repayment of loans. While this seems to be the most popular approach of British banks, it may not be the same approach as your local loan company.

WRI, ITS DISTRIBUTORS AND DEALERS SHALL NOT BE RESPONSIBLE UNDER ANY CIRCUMSTANCES FOR PROVIDING INFORMATION ON OR CORRECTIONS TO ERRORS AND OMISSIONS DISCOVERED AT ANY TIME IN LOAN.NB, WHETHER OR NOT THEY ARE AWARE OF THE ERRORS OR OMISSIONS. WRI DOES NOT RECOMMEND THE USE OF LOAN.NB FOR APPLICATIONS IN WHICH ERRORS OR OMISSIONS COULD THREATEN LIFE, INJURY OR SIGNIFICANT LOSS.
Subject

*Business and Economics
Keywords

Loan, Amortization, Repayment
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Loan.nb (49.3 KB) - Mathematica Notebook