# Category : Financial and Statistics

Archive : FREETK.ZIP

Filename : LOAN.TK

TK!2

=v

#1

:n

:s

b

:c

*** LOAN CALCULATIONS ***

#2

:n

price

:v

15500

:s

i

:u

$

:d

$

:c

total price

#3

:n

downpay

:v

3500

:s

i

:u

$

:d

$

:c

down payment

#4

:n

loan

:s

b

:u

$

:d

$

:c

loan amount

#5

:n

payment

:v

350

:s

i

:u

$/mo

:d

$/mo

:c

monthly payment

#6

:n

rate

:s

b

:u

df/mo

:d

%/yr

:c

interest rate

:f

.008333333333333333

#7

:n

term

:v

36

:s

i

:u

mo

:d

yr

:c

loan term

=u

#1

:f

yr

:t

mo

:m

12

#2

:f

df/mo

:t

%/yr

:m

1200

=r

#1

:r

price - downpay = loan

#2

:r

payment = loan * (rate / (1 - (1 + rate)^(-term)))

#4

:r

" Note: The simplicity and the utility of this model makes it an ideal

:s

C

#5

:r

" vehicle for explaining the basic concepts of TK design and

:s

C

#6

:r

" operation (see TUTORIAL.TXT in FREETK package).

:s

C

%Tv,f,0,5,0,1,0

%Or,f,5,1,0,1,0