Winston Scott Jones

2911 Nashville Ave.

Nederland, TX 77627

FINANCIAL WIZARD 1.00: Quick Loan Calculations

A fast way to analyze and compute loan information.

COPYRIGHTS

FINANCIAL WIZARD: Copyright, 1992, Winston Scott Jones, All Rights Reserved

FINANCIAL WIZARD was written in Quick Basic, ver 6.0: Copyright, Microsoft Corporation, 1988, All Rights Reserved.

WARRANTY

FINANCIAL WIZARD is sold "as is." The author is not liable for any damage to hardware, software, data, or any other thing caused by this product. Any liability shall be limited to the amount paid for this product. Any person using this program bears all risks incurred relative to the performance of the product.

PURPOSE

FINANCIAL WIZARD is a collection of tools to analyze loan repayment. It computes the amount of a payment, the number of periods to repay a loan, the amount that can be borrowed, or the remaining balance on a loan. It also displays and prints a complete amortization table.

DISTRIBUTION & REGISTRATION

FINANCIAL WIZARD is being distributed as user supported software. You may use this software free of charge for an evaluation period, not to exceed 30 days. At the end of the evaluation period, you must either register the product, or erase all files included with FINANCIAL WIZARD. you are free to distribute copies of FINANCIAL WIZARD to other users and bulletin board systems, provided ALL of the FINANCIAL WIZARD files are included without alteration.

You may register FINANCIAL WIZARD by mailing a $10.00 registration fee payable to Winston Scott Jones at the address above. Registration will entitle the user to receive notices concerning future improvements to this program.

EXECUTION

FINANCIAL WIZARD is executed with the command

FINWIZ10

Execution brings up the Main Menu. From the main menu the user may make the following selections:

1. Amount that can be borrowed

2. Amount of monthly payment

3. Amount remaining on a loan

4. Number of periods to repay a loan

5. Amortization table

6. Visit DOS

7. End program

The user selects the number corresponding to the desired choice. The program then asks the user to input the values necessary to calculate the desired result. When the input is complete, the answer is displayed. Option "6" allows the user to shell to DOS to execute other commands or programs. EXIT <RTN> at the DOS prompt will return the user to FINANCIAL WIZARD. Option "7" ends the program and returns the user to point of entry.

ASSUMPTIONS

FINANCIAL WIZARD was set up assuming standard U.S. loan practices, e.g. interest compounded on a monthly basis and monthly payments.

INPUTS AND OUTPUTS

AMOUNT THAT CAN BE BORROWED

Input:	Number of monthly periods (e.g. 360)

Annual interest rate, in percent (e.g. 7.5)

Size of monthly payment, in dollars (e.g. 1000)

Output:	Amount that can be borrowed, in dollars

(e.g. $143,017.63)

AMOUNT OF MONTHLY PAYMENT

Input:	Number of monthly periods (e.g. 360)

Annual interest rate, in percent (e.g. 7.5)

Amount to be borrowed, in dollars (e.g. 140000)

Output:	Size of monthly payment, in dollars (e.g. $969.33)

AMOUNT REMAINING ON A LOAN

Input:	Number of monthly periods (e.g. 360)

Number of payments made (e.g. 27)

Annual interest rate, in percent (e.g. 7.5)

Size of monthly payment, in dollars (e.g. 1000)

Output:	Principal remaining to be paid (e.g. $139,906.31)

NUMBER OF MONTHLY PAYMENTS TO REPAY A LOAN

Input:	Annual interest rate, in percent (e.g. 7.5)

Size of monthly payment, in dollars (e.g. 1000)

Amount to be borrowed, in dollars (e.g. 140000)

Output:	Number of monthly payments (e.g. 334)

AMORTIZATION TABLES

Input:	Name of lending institution

(e.g. Last National Bank)

Purpose of Loan (e.g. Home)

Number of payments to be made in first year

(e.g. 6)

Number of monthly periods (e.g. 360)

Annual interest rate, in percent (e.g. 7.5)

Amount to be borrowed, in dollars (e.g. 140000)

First year of loan (e.g. 1993)

Output:	Amount of monthly payment, in dollars (e.g. $978.90)

Amortization Table (on screen or printed)

AMORTIZATION TABLE

After displaying the computed monthly payment, the Amortization Table SELECT menu will pop up. There are four possible choices from this menu.

Screen	Displays the amortization table on the monitor

Print	Prints a copy of the amortization table to LPT1

Main Menu	Returns user to the Financial Wizard Main Menu

Exit	Immediately terminates execution of FINWIZ

The user chooses by typing the first letter of the desired selection.

FILES

FINANCIAL WIZARD is distributed with the following files:

FINWIZ10.EXE	The executable program

FINWIZ10.DOC	This documentation file

ERROR CHECKING

I have built in a number of error checks to test for things like payments too small to repay a loan and cases which result in things like logs of negative numbers and division by zero. If you find an error condition I have missed, please let me know and I will revise the source code.

QUESTIONS

You can refer questions or problems to the author by mail at the address above or via GENIE at W.JONES16 or via COMPUSERVE at 70531,1045. Also, I welcome any suggestions for improvements to Financial Wizard.

W. Scott Jones