EZ Loan Manager 97 for Windows 3.1, Version 4.20 -------------------------------------------------- (Released: June 5, 1997) 1. Introduction: ================ EZ Loan Manager 97 for Windows 3.1 (Version 4.20) provides a very easy and flexible tool for you to evaluate and manage your loans and mortgages. EZ Loan Manager is just for you, whether you have a fixed, adjustable or biweekly loan, or like to save interest money with early extra payments. If you pay your loan early, EZ Loan Manager will show you how much interest you will save. This is a major upgrade with biweekly loan added and many other improvements. Free upgrade for registered users. A one time registration fee is only $10.00 for home users, ($ 5.00 if you register before June 30, 1997). 2. Requirements: ================ Microsoft Windows 3.1 or higher. Microsoft Visual Basic run-time library: VB40016.DLL VB40016.DLL is available as vb40016.zip on many internet sites, such as http://www.simtel.net/pub/simtelnet/win3/dll/vb40016.zip 3. Installing EZ Loan Manager 97: ================================= Run the Setup.exe program. 4. Uninstalling EZ Loan Manager 97: =================================== Simply delete the EZ Loan Manager directory and its files. 5. Changes: =========== Version 4.20 (June 5, 1997) 1) Major upgrade in the 16-bit version (now equivalent to the 32-bit version). 2) A few bug fixes. 3) More convenient to input data in amortization table. Version 4.12 (March 8, 1997) This is a maintenance release with improvements in inputing loan information. Version 4.11 (February 11, 1997) 1) Allow to input loan term in biweeks in Biweekly loan. 2) A few bug fixes. Version 4.10 1) Added biweekly loan type. 2) Added drag and drop support. 3) Added eazy loan amortization table navigation function. 4) This Year's amortization table now loads automatically for registered users. 5) Added fuction to easily input monthly extra payments for a year. 6) Added many "Easter Eggs". 6. Frequent asked Question: =========================== 1) How To Do A Fixed Rate or Biweekly Loan Calculation? a. Select "Fixed Rate" or "Biweekly" in the Loan Type box. b. Input Amount of Loan, Starting Interest Rate, Starting Date (in MM/DD/YY) and Term in Years, Months or Biweeks. Note: Double click in the Starting Date box will put today's date in the box. c. Input any other information in Loan Description for you to identify the loan. d. Do the calculation by click the button. e. You can now view amortization table by clicking a numeric button. 2) How to Do An Adjustable Rate Loan Calculation? a. Do the same as in a fixed rate loan calculation, but select "Adjustable Rate". b. Go to the amortiztion table of a particular year by clicking a numeric button. c. Change the interest rate and click , or you may manually input the new monthly payment d. Click to update the loan amortization table. 3) How To Do A Loan With Extra Payments? a. Go to the amortization table of a particular year by clicking a numeric button. b. Input extra payments in the amortization table. c. Click to update the loan amortization table. 4) How does the button work? The button does not change the amortization table before the current year but will set the future interest rate and monthly payment to the same as the current year. 5) How is the "Interest Saved" calculated? The "Interest Saved" is calculated by comparing the interests with and without extra payments. 6) How to quickly navigate the loan amortization table? a. Press button to view first year's amortization table. b. Press button to view last year's amortization table. c. Press button to view This year's amortization table. When there is no active amortization table, clicking mouse below the numeric buttons does the same. When the table is active, click on the Blue Year Banner also loads This Year's table. d. Press button to view previous year's amortization table. e. Press button to view next year's amortization table. 7) How to add monthly extra payments in a particular year? a. Go to a particular year by clicking the numeric button. b. Input the extra payment in the month you want to start paying monthly extra. c. Double click the number and you will see the extra payments are added within the year. d. Click to update the loan amortization table. 8) What type of loan is best for you? With EZ Loan Manager, you can easily determin what type of loan is best for you. The following are comparison of various loans. (Encluded with the software) ----------------------------------------------------------------------- File Name Fixed-0.ezl Fixed-1.ezl Biweekly.ezl Adjustable.ezl ----------------------------------------------------------------------- Loan Type Fixed Fixed Biweekly Adjustable Amount Borrow $100,000 $100,000 $100,000 $100,000 Interest Rate 7.25% 7.25% 7.25% 4.25,6.25,8.25, 10.25,8.25, 7.25, 7.25, ... Loan Term 30 Years 20 Years 20 Years 20 Years Pay No./Year 12 12 26 12 Monthly Payment $682.18 $682.18 $364.53 $789.82** Monthly Extra $0 $107.64 Annual Payment $8,186.12 $9,477.84 $9,477.67 $9477.84** Extra cost/Year compare with $0 $1,291.72 $1,291.55 $1,291.60** Fixed-0.ezl Total Interest $145,583.47 $89,858.99 $89,553.42 $84,217.15 Savings* compare with Fixed-0.ezl None $55,724.47 $56,030.05 $61,366.32 ----------------------------------------------------------------------- * The savings are the differences comparing with a fixed loan, i.e. Fixed-0.ezl, not the "Interest Saved" as shown in the amortization table. ** When the interest is 8.25% or higher, monthly payments are higer than $789.82. 9) How to quickly open a loan file using Drag and Drop? a) Double click a loan file (*.ezl). Note: In the first time, you need to Creat the EZ Loan Manager file type. or b) Creat an EZ Loan Manager shortcut on you desktop, and drag the loan file to the shortcut to open it. 10) Notes on EZ Loan Manager Data file. The loan data file format has been changed. Loan data files created from previous version of EZ Loan Manager will be automatically transformed to the new version. The file default extension .dat has been changed to .ezl, which is unique and easy for you to creat the EZ Loan Manager file type in the Explor or other file managers. Although the loan data files are plain ASCII files, editing it with an editor may cause the files unreadable by EZ Loan Manager. 7. Files: ========= The EZL97G16.zip file you downloaded from the internet contains: Ezloan.exe -------- The program file, which is the only file needed besides the runtime library files. File_id.diz ------- Brief description of the software. Readme.txt -------- This file. Adjust-1.ezl ------ An adjustable loan example. Adjust-2.ezl ------ Another adjustable loan example. Biweek-1.ezl ------ A biweekly loan with 360 biweeks/payments. Biweek-2.ezl ------ A 20 year biweekly loan example. Fixed-1.ezl ------- A fixed rate loan example with extra payment. Fixed-2.ezl ------- A fixed rate loan example without extra payment. Car-loan.ezl ------ A car loan example. All other files are setup files and Microsoft Runtime Library files that you may already have, if you are using other softwares that are developed with MS Visual Basic V4.0. 8. Disclaimer ============= The program is distributed "as is", the author accepts no liability in any way. 9. Distribution: ================ $10 Shareware ($5 before June 30, 1997). The ezl97g32.zip file is freely distributable. 10. Where To Get The Latest Version: ==================================== Thanks to Mike Exner of Tangent Computer's Software Warehouse, you can always find the latest version at our home page: http://gsanet.com/www/Joy/ --- Tangent sponsored home page or http://www.erols.com/erols/ezloan.htm http://gsanet.com/frame.htm --- A Great Site to Find Cool Softwares. 11. Registration: ================= *********************************************************************** * Free for registered users (just use the same user name and serial * * number). If possible, email us your comments and suggestions. * * We thank you for your support and registration. * *********************************************************************** The shareware version is fully functional. If you use it for more than 30 days, you must register it. a) Registration fee for home users: $5.00, before June 30, 1997 $10.00, after June 30, 1997 b) Registration fee for business users: $45.00: for up to 20 users, $2.00 for each additional user. This is a site lincence, with your company name as the User Name. c) Registration for registered users: FREE, forever!!! This is a one time registration, you will get any future upgrade free. For registration, please send check, cash or money order, with your e-mail address or a self-addressed, postage paid envelope to: Joy Chu 145 Brittany Place West Chester, PA 19380 U.S.A. Please specifiy "EZ Loan Manager Registration" and clearly print your e-mail on your check or letter. Registered user will receive a serial number that will make the program even simpler to use without the nag registration information on screen and printed amortization table. 12. Author: Kevin Cai =========== E-mail: gxc2@po.cwru.edu For technical support, comments and suggestions, please send email to: gxc2@po.cwru.edu.