The LOAN program was designed to be part of a financial
program that handles the two standard cases of compound interest.
Either a lump sum or a series of periodic constant payments may
be considered to earn compound interest. This program works with
the 5 standard financial variables n, i, PV, FV, PMT and can calculate
these in any meaningful combination. n is the number of compounding
time periods. i is the periodic interest rate. PV, FV, and PMT
represent the Present Value, Future Value, and periodic payment
amounts in terms of dollars. When working with loans this program
can also print out a complete amortization schedule for the loan
with any specified beginning and ending periods. For any series
of payments this program will calculate and display the payment
number, the amount of the payment that goes to interest and the
amount that is applied to the principle and the new remaining
balance. The amortization schedules may be saved in disk files
or printed on a printer. The program can also make interest earning
schedules for one- time lump sum deposits that earn compound interest.
A third type of interest earning schedule is for a series of periodic
payments. For each kind of interest earning schedule the program
shows how the interest and remaining balance grow as a function
of time. This program works in a text display mode only and does
not require any graphics hardware. There is an independent tutorial
file, LOAN.TXT, which is for first-time users. LOAN.TXT may be
imported into any word processor and/or printed on any printer.