Category : Financial and Statistics
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Filename : AMORTIZE.DOC

 
Output of file : AMORTIZE.DOC contained in archive : AMORTIT.ZIP

















AmortizeIt!

The Complete Amortization Program















(Preliminary Documentation)








Pine Grove Software
67-38 108th St., Suite D-1
Forest Hills, NY 11375

(800) 242-9192
(718) 575-9192

CompuServe # 72366,306
























Copyright

(c) 1990 Pine Grove Software, Karl Thompson

AmortizeIt! is copyrighted software and as such is protected
by the laws of the United States. You may share this soft-
ware with others but you may not sell it. If you are a
distributor of shareware software, you may charge up to $8
for your disk duplication services. This product may not be
distributed along with any other product that is being sold
for profit without the expressed prior written permission of
Pine Grove Software.

Introduction

AmortizeIt! is Pine Grove Software's second program. Even
though this is version 1.0, its design has been based upon
literally hundreds of hours talking with computer users
about what they need in such a program. In addition, we have
study ever amortization program that we could find. The
result is that we believe that AmortizeIt is the most com-
plete amortization program in its class.

We would like to thank the hundreds of users of SolveIt!,
The Financial Calculator, who have taken the time to write
of call with ideas that have enabled us to improve our
amortization routine. Without their encouragement, this
program would have never been possible. Thank you one and
all.

(Please note, this documentation is very preliminary. It is
not meant as a tutorial. Almost all of this information is
available through AmortizeIt!'s on line help system.)



































Registration

We hope that you like AmortizeIt!. This version of the
program is shareware. The shareware method of distribution
allows you to try a program to see if it will perform as you
wish. If you like the program and plan to continue using it
you are honored bound to pay the $50 licensing fee. You may
also freely copy this program and pass it on to others for
them to try. You may not charge for the program. If you are
a shareware distributor, you are authorized to charge up to
$8.00 for copying and distributing AmortizeIt!.

When you copy AmortizeIt!, you must identify the program as
shareware and you must inform the user that they have not
paid for the rights to use this program. You must also
distribute it complete with this documentation file in
unmodified form.

For all registered users of the program. You will receive
two free upgrades when they become available. You will also
receive a printed manual as well as toll free technical
support.

To register you may send $50. plus $3.95 for shipping and
handling directly to us, or you may call toll free to place
a COD order.

Contact:

Pine Grove Software
67-38 108th St., Suite D-1
Forest Hills, NY 11375

(800) 242-9192 or (718) 575-9192


































Major Features of AmortizeIt!

Payment and Compounding Periods:

Daily, Weekly, BiWeekly, *Monthly, BiMonthly, Quarterly,
SemiAnnually, Annual


*Payment in Arrears or Payment in Advance (i.e. lease or
classic mortgage)

Amortizing Methods Supported:
*Normal : Rules-of-78 : US Rule : Fixed Principal (Declining
Payment) : Interest Only

Accrued Interest (Negative Amortization)

Random Extra Payments and Accelerated Regular Extra Payments

Skipped Payments and Short Payments

Adjustable Interest Rate (ARM's)

Display payment, interest and principal totals for Fiscal,
*Calendar or Loan Year for both *specific year and since
first payment date of loan

Detailed Summary feature shows payment, interest and princi-
pal totals paid from first payment date through any particu-
lar payment. In addition the summary feature will calculate
the amount of interest saved to any particular payment
period as the result of an extra or extra payments.

Supports both 360 and 365 day years

*Save all client interest and extra payment data to disk
(version 1.1 only)

*Print amortization table to printer or disk or display on
screen (version 1.1 only)


* feature found in SolveIt! 3.1








































TABLE OF CONTENTS


Help with Help . . . . . . . . . . . . . . . . . . . . 1

Install . . . . . . . . . . . . . . . . . . . . . . . . 1

Loan Calculator . . . . . . . . . . . . . . . . . . . . 4

Amortize Loan . . . . . . . . . . . . . . . . . . . . . 4

Interest Due . . . . . . . . . . . . . . . . . . . . . 5

Entering and Editing Data . . . . . . . . . . . . . . . 6

Important Keys . . . . . . . . . . . . . . . . . . . . 7

Input Fields . . . . . . . . . . . . . . . . . . . . . 10

Coming New Features . . . . . . . . . . . . . . . . . . 20

Pine Grove Software . . . . . . . . . . . . . . . . . . 21

Index . . . . . . . . . . . . . . . . . . . . . . . . . 22





























AmortizeIt! (c) Pine Grove Software


Help with Help

Press the key at any time to bring up a context sensi-
tive help screen. If is pressed again when help is
being displayed, a list of help topics will be shown. You
may use the cursor keys to move to any topic. Press
and then help on that topic will be displayed.

will display the previously called help topic.

will exit any help screen.

Install

To enter the install routine, first, you must be in the
directory that AmortizeIt! is located in. To start Install
enter:

Amortize /I

Color Picker

Selecting the color picker will give you another menu of
choices so that you can completely customize AmortizeIt!'s
screen colors. You will be able to change:


Frame (menu frame or window border)
Title (menu/window title background)
Unselected Text (normal menu and screen text)
Selected (text in menu's cursor)
Pick (character that is menu choice)
Help (text in help line at bottom)
bAckground (screen's background color,
MUST SET FIRST)

Before you start to change the default colors, please make
sure that you are working with a backup copy!!

FIRST set the screen's background color, EVEN if the back-
ground color is the color that you want you must confirm the
selection by choosing and setting the background OTHERWISE
the background will be set to black the moment that you go
to change the text color.

When you pick bAckground, a box will be displayed on the
screen. As you press the space bar the colors that are



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AmortizeIt! (c) Pine Grove Software


available will change inside the box. To accept a color, hit
or to leave the color unchanged hit .

When the background color is set, the text in the title and
the text in the cursor will also be set to the same color as
the color selected for the background.

Next, you may pick a color for AmortizeIt!'s text by picking
the unselected text option. Follow the same steps as you
used to change the background color.

NOTE that the title's background color and the color of the
cursor bar are automatically set to the color that you
select for the text color.

Now pick a color for the frame. A box will again appear. Use
the same technique to choose a color for the frame as you
used to pick the background and text color.

If you want the title's background color or the cursor bar's
color to be the same color as the frame, pick title or
selected from the color picker menu. The title's background
color or the cursor bar's color will only be set to the same
color as the color of the frame. (If you want to have the
title's background color different than the frame's color,
set the frame color to the color that you want for the
background of the title and then pick title from the color
picker menu and then go back and change the frame color.)

Finally, you may wish to change the color of the help text
and/or the color of the highlighted pick character, i.e. the
capital letter in the menu choices.

Remember, changing the color of the unselected text will
automatically set the color of the cursor bar and the back-
ground of the title to the same color. Changing the back-
ground color will automatically change the color of the text
in the cursor and the text in the title. And if you change
the color of the frame, then the title's background color
and the cursor bar color will become the same color as the
frame if you choice to change their color.

Default Subdirectory

The default subdirectory is any other directory that you
assign for AmortizeIt! to look into to find the program's
overlay files. There is no need for you to install a default
subdirectory if:


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1) You start the program while in the directory that
AmortizeIt! is in on your hard disk.

Or....

2) AmortizeIt! is in a subdirectory on your C: drive called
AMORT.

Save Changes & Quit

This option will save the changes that were made in the set
up so that when you start AmortizeIt!, these changes will
become the default settings.

Quit Install/No Save

This option will ignore all changes that were just made.

































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Loan Calculator

The Loan Calculator routine will solve for any one of the
following: Amount, Number of Payments (term), Annual Inter-
est Rate or Payment Required. Enter the known values for any
of the three and 0 for the unknown. Press to calculate.
The payment method may be either payment in advanced or
payment in arrears. To change, move the cursor to the field
and press the space bar. Payment and compounding periods may
be set the same way.

NOTE: that the compounding period must be either equal in
length to or shorter than the payment period.

Amortize Loan

Amortize will display a classical loan table. That is, it
will show how any payment is applied to interest and princi-
pal. You can display a table for a loan year, calendar year
or a fiscal year. The table will give a summary of total
payments, total interest and total principal for both the
year displayed and from the beginning of the loan through
the last payment of the particular year.

Once all data is entered press to calculate and display
the loan table.

WHEN A TABLE IS DISPLAYED, pressing the key will exit
the routine. Pressing will allow you to enter new or
edit existing data. Pressing will display the next year.
If you are at the last year will cause information for
the first year of the loan to be redisplayed. Pressing
will allow you to display any year. When prompted enter a
four digit calendar year. For example 1990 or 2001.

The key will open a summary window. You can summarize
the loan through any period. Simply enter the period number
and press to calculate. The Summary Screen will show
the total amount of interest paid through the period. Also,
it will show the amount of interest saved as the result of
an advanced payment or series of payments.

When a Loan Table is displayed, you can print it out for any
range of periods by pressing . Also, interest rate and
client data may be saved to disk by pressing .

THE SAVING AND PRINTING FEATURES ARE AVAILABLE ONLY IN
VERSION 1.1.


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Interest Due

It is often necessary to know how much interest is due when
a loan is being paid off on other than a payment due date.
The Interest Due routine will calculate the interest that is
due between any two dates or for any number of days. Enter
the first date (usually the day the last payment was made)
and then enter either the date that the loan is being paid
off or skip to the next field and enter the number of days
for calculating the interest. (NOTE: the last date will then
be automatically displayed if you enter a number of days. By
allowing you to enter either the last date of the period or
the number of days in the period you can calculate either
the number of days between any two dates or calculate the
date X number of days from the first date.) Enter the amount
that is outstanding on the loan and the interest rate.
Select the correct payment period, compounding period and
days per year. Press to calculate the results.

This routine conforms with the Truth in Lending Act as
published in US Federal Reserve's Appendix J of Regulation
Z. Per this regulation, if the period that interest is due
for is less than the payment period, then the interest is
calculated on an exact day basis. If the period is equal to
or longer than a payment period, then the interest due is
first calculated for a full payment period (which assumes a
30 day month) and then the interest due is calculated for
the remaining days if there are any.






















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Entering and Editing Data

There is three basic types of data or information that
AmortizeIt! will allow. The first data type is numeric data
such as a dollar amount or payment number. Simply enter the
appropriate value and press enter. If you need to clear a
value press while holding the key.

The second type of entry is a date type. Enter any valid
date in a MM/DD/YYYY format. Do not type in the 's. The
program provides them automatically. Also, with a date you
can use the key to move to any one of the three fields
(month, day or year). Once at a field enter the correct
value and press enter. When in the year field, it is possi-
ble to enter just the last two years of a date and
AmortizeIt! will fill in the missing first two numbers if
the year is in this century. (1900's!) In the month or day
field it is NOT necessary to supply a leading zero. You may
enter 2 for February. You do not need to enter 02. But you
must move to the next field by using the key.

NOTE: If you do not enter a valid date, AmortizeIt! will
beep at you when you press enter. To correct this situation,
simply enter a valid date. Also, please note that you must
have all three fields filled in.

The third data type is when you are limited to a few specif-
ic choices. An example of this is Payment Period where the
range of input is limited to 8 or so choices. To change from
one acceptable value to another, move the cursor to the
field using the cursor keys or the tab key. Change the value
by pressing either the space bar or the dark gray <+> or <->
keys located on the right side of the keyboard. Once the
correct value is selected, you may move on to the next field
by pressing or using the appropriate cursor key or
the key.














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Important Keys

Throughout the AmortizeIt!'s instructions and help screens,
you will see symbols such as or . This means finds
the key on your keyboard that have F1 or Esc written on them
and to press them.

Often you will also see a symbol such as <^Y>. This means to
hold the (control) key will pressing the key. The
technique is not unlike using the shift key to produce a
capital 'Y'. This symbol <^Y> is pronounced 'Control Y'.

In select fields, these keys will produce the following:

brings up this help system. Press a second time
and you will see a help index. Us the cursor keys to high
light a topic of interest and then press to display
the help information for that topic.

saves client data. version 1.1 and later

starts printing. version 1.1 and later

Calculate

Pressing will calculate the results in any routine.

Local Menu

When the cursor is on select input fields on the main Amor-
tize Loan Routine screen, the user will have access to local
menus via the function key. These local menus are:
Extra Payments, Fiscal Month and Additional Interest Rates.



Pressing the key on the keyboard marked (escaped) will
take you back, one level. For example, if you are entering
extra payments, pressing will take you back to the
main loan table routine.

moves the cursor from one field to the next field

moves the cursor back one field

moves the cursor to the top of the column

moves the cursor to the bottom field of the column


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<^PgUp> moves the cursor to the first field on screen

<^PgDn> moves the cursor to the last field on screen

<^Y> clears the field that is it makes it empty

<^R> restores the original contents of the field

cursor to beginning of field

cursor to end of field

<^ <-- > (left cursor) moves cursor a word at a time to the
left

<^ --> > (right cursor) moves cursor a word at a time to the
right

deletes character at cursor

deletes character to left of cursor

<^Home> deletes from beginning of subfield to cursor

<^End> deletes from cursor to end of subfield

<^T> deletes word to right of cursor

toggles insert mode on and off

R(epeat)

Pressing will repeat the problem. After pressing ,
new data can be entered or data can be edited. (Amortization
Table only)

N(ext)

Pressing will display the next year of the amortization
table. If the last year is displayed when is pressed,
then the first year will be displayed again. (Amortization
Table Only)

A(any)

Pressing
will prompt for a year to be entered. Enter any
year such as 2005 and the amortization table will be dis-
played for that year. (Amortization Table Only)


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S(ummary)

Pressing will open a window so that a summary of the
loan can be done to any specific payment period. After the
window is open enter the period number that the loan is to
be summarized to. Once the period is enter press to
start the summary process.

This is one of the most useful features of AmortizeIt! for
it will show the totals paid up to and including the period
specified. The loan will also be calculated two ways, once
without the effects of extra payments and once with the
effects of extra payments. This will show the interest that
can be saved as the result of extra payments.



































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Input Fields:

Loan Amount

Total amount that is being financed. You may enter a value
up to $99,999,999. A value must be filled in.

Loan Table or Amortization Routine: You will NOT be allowed
to make a 0 entry. While in this field, press to add
extra, short or skipped payments.

Calculator Routine: Will solve for the amount if a 0 is
entered.

Payments

Number of total payments that one expects to make. There are
several things to consider. First this is not the number of
payments per year. Secondly, the maximum total number of
payments is 480.































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AmortizeIt! (c) Pine Grove Software


YEARS WKLY BIWKLY MONTLY BIMNTH QRTRLY SEMIANNL


1 52 26 12 6 4 2
2 104 52 24 12 8 4
3 156 78 36 18 12 6
4 208 104 48 24 16 8
5 260 130 60 30 20 10
6 312 156 72 36 24 12
7 364 182 84 42 28 14
8 416 208 96 48 32 16
9 468 234 108 54 36 18
10 260 120 60 40 20
11 286 132 66 44 22
12 312 144 72 48 24
13 338 156 78 52 26
14 364 168 84 56 28
15 390 180 90 60 30
16 416 192 96 64 32
17 442 204 102 68 34
18 468 216 108 72 36
19 228 114 76 38
20 240 120 80 40
21 252 126 84 42
22 264 132 88 44
23 276 138 92 46
24 288 144 96 48
25 300 150 100 50
26 312 156 104 52
27 324 162 108 54
28 336 168 112 56
29 348 174 116 58
30 360 180 120 60
31 372 186 124 62
32 384 192 128 64
33 396 198 132 66
34 408 204 136 68
35 420 210 140 70
36 432 216 144 72
37 444 222 148 74
38 456 228 152 76
39 468 234 156 78
40 480 240 160 80

Loan Table or Amortization Routine: Note that you cannot
amortize a loan that exceeds 40 years. So if you are amor-
tizing a loan with semiannual payments, then the maximum
total number of payments is 80 (2 payments per year X 40


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years = 80 payments). If one is amortizing a mortgage with
an extra payment(s) the number of periods entered is the
total number of periods as if there were NO extra payments
made. AmortizeIt! will automatically calculate the effects
of early payments. Also, if you want to do a 15 year accel-
erated biweekly mortgage, you would enter 360 payments. One
(1) is the minimum value that can be entered while in the
Amortization routine.

Calculator Routine: If zero (0) is entered then AmortizeIt!
will solve for the number of payments. While you can not
enter a fractional number of payments (that is, you can only
enter full payments such as 48 and not 48.5), AmortizeIt!,
while solving for the total number of payments, will display
the fractional part of a payment in the interest of accura-
cy. You will have to decide if the amount of the loan, the
payment amount or the rate is to be adjusted so that there
is not a fractional number of payments.

Payment Date

Date of first payment. Note, for a loan that is calculated
using the Payment in Arrears Method, it is assumed that the
origination date of the loan is exactly one period before
the first payment date.

Payment Method

A loan may be calculated using one of two payment methods,
Payment in Arrears or Payment in Advanced. Payment in Arrear
is the most common method of payment calculation. Simply
stated, it is when the first payment is due exactly one pay
period after receipt of the borrowed funds. Since there was
use of the funds for that one period, interest is due for
that period when the first payment is made. Payment in
Advance is when the first payment is due on the first day
that the funds are available (origination date of the loan).
Therefore, since there was no use of the funds when the
first payment is made, the entire first payment is applied
toward reducing the principal of the loan. To change the
value, tap either the space bar or the dark gray plus
<+> or minus <-> keys on the right side of the keyboard.

Payment Period

AmortizeIt! supports 8 different payment periods. (Daily,
Weekly, BiWeekly, Monthly, Bimonthly, Quarterly, Semiannual-
ly, Annually) To change from one payment period to another,


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tap either the space bar or the dark gray plus <+> or
minus <-> keys on the right side of the keyboard.

Compounding Period

AmortizeIt! supports 8 different compounding periods. (Dai-
ly, Weekly, BiWeekly, Monthly, Bimonthly, Quarterly, Semian-
nually, Annually) To change from one payment period to
another, tap either the space bar or the dark gray plus
<+> or minus <-> keys on the right side of the keyboard.

NOTE: You CANNOT select a compounding period that is of a
longer duration than the payment period. In fact, Amortiz-
eIt! will not allow you to do this. If you want to calculate
a loan with semiannual compounding, first make sure that
either an annual or a semiannual payment period is set.

Display Year

AmortizeIt! can be set to display an amortization table by
the loan year, calendar year or fiscal year. The loan year
is used to see the cost of the loan for any complete 12
month period from the first payment date. The fiscal or loan
year display will show the interest paid as well as the
total of the payments and the total amount applied to prin-
cipal for a tax year. To change the display type, tap either
the space bar or the dark gray plus <+> or minus <->
keys on the right side of the keyboard. To set the FIRST
month of a fiscal year, press and select the month
from the menu by typing the capital letter in the month's
name or move the bar to the month's name by using the up or
down cursor keys and then select by pressing .

Amortizing Method

There are 5 ways that AmortizeIt! can apply a payment.
Normal is the most common method used for a mortgage. It is
also known by the names of Equal Payment or Level Payment
Mortgage. Under the normal payment method the payment amount
is the same (except for possibly the last one) for the
duration of the loan as long as the interest rate does not
change.

Under the US Rule the payment amount and payments are ap-
plied exactly the same way as under the normal method EXCEPT
when interest is being accrued (during negative amortiza-
tion). The US Rule does not allow for interest to be charged
on the accrued interest.


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The Rules-of-78 applies interest faster than the normal
method. This is often used by bank for short term consumer
loans. NOTE: If all values are the same, exactly the same
amount of interest is paid on a loan whether the Rules-of-78
is used or the normal method is used.

The Fixed Principal Method applies the same amount of each
payment to the principal for each payment. The payments get
smaller as the principal is paid down and less interest is
due for each period.

The Interest Only Method calculates a payment amount so that
only the interest is paid on the loan up until the last
payment is due. At that time a balloon is due equal to the
original amount of the loan plus the last periods interest.

Days Per Year

Payments and amortization may be calculated using either a
360 or a 365 day year. The 360 day year is the most commonly
used value, and this is the default for AmortizeIt!.

Annual Rate

This is the nominal annual rate of interest.

Loan Table or Amortization Routine: The value that is enter
will be the effective rate for the entire loan unless
is pressed to change the rate for different periods. CAU-
TION: Entering a rate in this field will NOT set that rate
for the entire loan unless this is the first time a rate is
being entered. To set the same interest rate for the entire
term of the loan, press and select Paid Interest Rate
from the menu. If you pick FIXED from the next menu, you
will be prompted to cancel all adjustable rate entries.

NOTE: While the amortization table is displayed, the rate
shown in this field is the rate for the first period that is
being displayed. If the rate changes during the period being
displayed am asterisk (*) will appear in the date column

When the table is printed out, a line in the printout will
show what the new rate is whenever there is a change in the
rate.

HINT: If you need to enter additional (adjustable) rates,
enter those rates BEFORE filling in this field by pressing
. This saves you the trouble of entering a rate, press-


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ing and then finding yourself in the Amount of Loan
Field. However, if you are in the Amount of Loan field and
wish to go back to Annual Rate field, hit the UP arrow.

Calculator Routine: Enter zero (0), and the calculator will
solve for the annual rate. This is an approximation. To see
how close it is, repeat the problem, but use the rate that
AmortizeIt! suggests and enter a zero (0) for Periodic
Payment. Press to calculate. If the payment does not
change, then the interest rate calculation was very accu-
rate. If is reasonable to expect that the payment amount
will change by several cents.

Extra Payments

Press to bring up the extra payment menu while in the
Amount of Loan field in the amortization routine. You will
be shown a menu that will allow you the opportunity to enter
extra payment amounts annually on the anniversary date of
the loan OR periodically when any payment is made. Make the
appropriate selection. Then using AmortizeIt's standard
editing techniques, enter any extra payments that are made.


Pressing while entering extra payments, will allow you
to copy an extra payment over several consecutive payment
periods. This is much faster than keying in a regular extra
payment. If you want to pay an extra $100 every payment
period, enter the $100 amount, then enter the first period
that it will be paid in and the final period that you expect
to make the payment in. Press to execute the copy over
the periods.

Fiscal Month

Press for the local fiscal month menu while in the
display year field. Select the first month of the fiscal
year from the menu by typing the capital letter or using the
cursor keys to move the high light bar over the month's name
and press .

Paid Rate

Press while in the annual rate field to bring up the
local Paid/Accrued menu to select paid rate or accrued.
Select from the menu either paid or accrued rate. The next
menu will allow the rate to be changed either on an annual
basis starting one year from the origination date or at


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every period payment date. The third option will allow the
rate for each period to be set equal to the first rate that
is entered on the main data input screen. When annual change
is selected, the rate entered is used for the entire year.
To enter additional rates, move to the appropriate field
using either the cursor keys, the tab key, or the control
page up <^PgUp> or the control page down <^PgDn>.

Accrued Rate

Press while in the annual rate field of the amortize
routine to bring up the local Paid/Accrued menu to select
paid rate or accrued. The accrued rate is the rate that is
actually used to determine the interest that will be due on
the outstanding balance. Often, banks will give a special
rate for the first year or two of a loan. However, the
difference between the paid rate and the accrued rate is
collected later. If the payment collected does not even
cover the interest being accrued then Negative Amortization
is taking place. If the US Rule is in effect, there can be
no interest charged on the outstanding interest balance.

Display

The amortization table is displayed one year at a time. To
go on to the next year press or to display any other
year press
.

When an asterisk (*) appears in the payment column, that
indicates that an extra payment was made on that payment
date.

When an asterisk (*) appears in the date column, that indi-
cates that the interest payment changed on that date.

NOTE that if the loan is calculated in arrears, then the
rate actually changed on preceding payment date.

Copy Rate

Press for the local menu to copy a rate when interest
rates are being added.

Copy Amount

Press for the local menu to copy an amount when extra
payments are being added.
Periodic Payment


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This is the amount that would be paid on each payment date
to amortize the loan. Enter zero (0) and press to solve
for payment amount.

Start/Last Date

Enter the Start and Last Dates for the period that the money
is outstanding.

NOTE: It is not necessary to enter a Start or Last date. If
you enter a Start Date and enter a positive number for the
Number of Days, then the Last Date is automatically calcu-
lated for you. If you enter the Last Date and enter a nega-
tive number for the Number of Days, then the Start Date is
automatically calculated for you. Using the above procedure,
it is possible to determine the date X days from a specific
date.

Further Note: The last two fields on the Interest Due screen
tells you the day of the week for the Start and Last Date.

Number of Days

The number of days for which interest is due.

NOTE: It is not necessary to enter a value for the Number of
Days. If you enter both a Start Date and a Last Date, then
the number of days is automatically calculated for you.
This, of course, is the classic days between dates routine.





















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Fixed Rate

This option will allow you to reset all of the rates for
each payment period to equal the value entered on the main
Amortize Routine. This is the quick and easy method to
change an adjustable rate loan to a fixed rate lone. To
access this option, go to the Rate field on the main Amor-
tize Routine and press to bring up the local menu.

Adjust Annually

This option will allow you to set an interest rate for an
entire year. The rate changes one payment period prior to
the anniversary date of the loan if the payment is in ar-
rears. It changes on the anniversary date of the loan if the
payment is in advanced.

When an asterisk (*) appears in the date column, that indi-
cates that the interest payment changed on that date.

NOTE that if the loan is calculated in arrears, then the
rate actually changed on preceding payment date.

To access this option, go to the Rate field on the main
Amortize Routine and press to bring up the local menu.

Adjust Periodically

This option will allow you to change the interest rate on
any payment date.

When an asterisk (*) appears in the date column, that indi-
cates that the interest payment changed on that date.

NOTE that if the loan is calculated in arrears, then the
rate actually changed on preceding payment date.

To access this option, go to the Rate field on the main
Amortize Routine and press to bring up the local menu.

Fiscal

Select the first month of the fiscal year from the menu by
typing the capital letter in the months name or, alterna-
tively, by using the cursor keys to move the high light bar
over the month's name and pressing .




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AmortizeIt! (c) Pine Grove Software


No Extra Payment

Selecting this option will cancel all previously entered
extra payments.

Extra Annually

This will allow you to enter an extra payment once a year on
the anniversary date of the loan.

extra Periodically

This will allow you to enter extra payment(s) on any payment
date. This is the option that you want to select if you wish
to schedule a series of regular extra payments. (Follow the
menus from the entry screen that allows extra payments to be
copied.)
Print

In version 1.1, pressing will print out an amortization
table. There will be a title page with the name of who the
table was prepared for as well as the name of the preparer.
The print routine will print a amortization schedule for any
period or range of periods.


























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AmortizeIt! (c) Pine Grove Software


Coming New Features

AmortizeIt! version 1.1 will offer:

Printing Feature to print entire table or any range of
periods.

A title page will be printed as well. It will allow you the
opportunity to enter a client's name and other sundry infor-
mation.

Data Save Feature. Save a client's data, i.e. rates, extra
payments etc. to disk.


Ability to also print to disk so that file can be later
edited


AmortizeIt! version 1.5 will offer:

Short and long beginning periods
Exact interest rate calculation
Interest change on any date, not just payment dates
Matrix display that changes rate and amount and displays
different payments
APR factoring in points and extra payments
Greater accuracy with larger values
Ability to compare 2 or 3 loans at the same time





















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AmortizeIt! (c) Pine Grove Software


Pine Grove Software

Pine Grove Software was founded in 1985. AmortizeIt! and
SolveIt!, The Financial Calculator are our two software
packages.

Pine Grove Software
67-38 108th St., Suite D-1
Forest Hills, NY 11375

(800) 242-9192 or (718) 575-9192


The programmer, Karl Thompson, is a partner in the computer
consulting firm, Thompson & Roth. They are located at:


Thompson & Roth Computer Consultants
Suite 2101
875 Avenue of the Americas
New York, NY 10001

(212) 279-5570

Mr. Roth is a CPA. The firm specializes in accounting and
general multiuser and network computer installations.

SolveIt! 4.0

SolveIt!, The Financial Calculator was released in 1985. It
has gone through many revisions. Version 4.0 is scheduled to
be released in 1990. SolveIt! does everything that
AmortizeIt! 1.0 does plus there are more than 24 additional
routines.

Call Pine Grove Software at (800) 242-9192 for additional
information.



NOTE: There is more detail in the help screens than in this
manual for Negative Amortization and solveing for rates.








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AmortizeIt! (c) Pine Grove Software


INDEX

Accrued Rate 16
Adjust Annually 18
Adjust Periodically 18
Amortize Loan 4
Amortizing Method 13
Annual Rate 14
Color Picker 1
Coming New Features 20
Compounding Period 13
Copy Amount 16
Copy Rate 16
Days Per Year 14
Default Subdirectory 2
Display 16
Display Year 13
Entering and Editing Data 6
Extra Annually 19
Extra Payments 15
Extra Periodically 19
Fiscal 18
Fiscal Month 15
Fixed Rate 18
Help with Help 1
Important Keys 7
Input Fields 10
Install 1
Interest Due 5
Loan Amount 10
Loan Calculator 4
No Extra Payment 19
Number of Days 17
Paid Rate 15
Payment Date 12
Payment Method 12
Payment Period 12
Payments 10
Pine Grove Software 21
Start/Last Date 17










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