sydchel Apps
Loan Aide 1.0
Loan Aide helps you calculate and understand your loan interest andprincipal payments. You enter a loan amount, loan rate, monthlyrepayment amount and month number, and it shows how the interestand principal payments are calculated for the specified month. LoanAide can calculate for up to 600 months (50 years). In additionLoan Aide shows the total interest and total principal paymentsmade leading up to the specified month. It also allows you to emailthe calculation details. For instance, you enter 100000 into theLoan Amount field, 3 into the Loan Rate field, 3000 into theMonthly Repayment Amount field and 3 into the Month Number field,and click Show button. Loan Aide tells you that at the end of month3 your loan payments and loan amount will be as follows: TotalInterest Payment: 2939.8 Total Principal Payment: 6060.2 LoanAmount at the end of Month 3: 93939.8 In addition Loan Aide showsthe calculation details for the months leading to the specifiedmonth. In our example it shows the calculation details for month 1through to month 3: Month 1 calculation details. Loan amount atmonth start: 100000 Interest payment: 100000 * (12% * 0.01 / 12) =1000 Principal payment: 3000 - 1000 = 2000 Loan amount aftermonthly payment: 100000 - 2000 = 98000 Month 2 calculation details.Loan amount at month start: 98000 Interest payment: 98000 * (12% *0.01 / 12) = 980 Principal payment: 3000 - 980 = 2020 Loan amountafter monthly payment: 98000 - 2020 = 95980 Month 3 calculationdetails. Loan amount at month start: 95980 Interest payment: 95980* (12% * 0.01 / 12) = 959.8 Principal payment: 3000 - 959.8 =2040.2 Loan amount after monthly payment: 95980 - 2040.2 = 93939.8You can email calculation details by clicking on Email button. Itopens the default email program on your phone, or prompts you tochoose one if you have more than one email program (e.g. Hotmailand Google Mail). Loan Aide writes calculation details andspecifies the subject so you just need to type in the recipient'semail address and send it as you usually do with any other email.
