aLoan : loan calculator

The display looks similar manner on iPhone and iPad, but on iPhone you have to scroll the window to reach the amortization schedule.

aLoan is able to calculate one of four values: funded capital nominal rate, number of periods, amount of rent once the other three are indicated. It is thus possible to adjust very rapidly the characteristics of ready in the given situation.


Built-in calculator
In each numeric field, tap the calculator icon button to call up the integrated calculator and possibly make intermediate calculations. It is also possible to input directly into the field and use the keyboard of the iPhone or iPad.

Tap the “=” button to import the result in the input field.
To quit:
– on iPhone press the ‘Back’ button,
– on iPad press anywhere on the screen outside the calculator.

Fixed and annual fees

Fixed fees are collected at the beginning of financing. Annual fees are charged each period, that is to say monthly if the periodicity of one month.

In both cases, these costs may consist of a fixed amount or an amount related to the funded capital. Some types of the most commonly used charges are indicated, and for readability you can also define other types of fees.

The various calculations

In all cases you must define the frequency in months, and any fixed annual fee and whether such interest at the beginning of each period (“in advance”) or end of the period (“in arrears”).
It is also possible to define a non-zero residual value in the case of leasing.

Loan calculation : remove the installment, enter “borrowed capital”, “number of installments” and “nominal rate”. Tap on “Compute”.

Nominal rate calculation : remove the nominal rate, enter “borrowed capital”, “number of installments” and “installment”. Tap on “Compute”.

Calculating the number of installments : remove the number of installments, enter “borrowed capital”, “nominal rate” and “installment”. Tap on “Compute”.

Calculation of borrowed capital : remove the borrowed capital, enter “number of installments”, “nominal rate” and “installment”. Tap on “Compute”.

Amortization table : on iPhone, by scrolling the window you can view the amortization schedule.

 

The amortization table together with the financing characteristics can be printed or sent to a correspondent. To do this you must activate the “print and mail” option in the settings; you can also customize the publishing header.

By default the amortization table this exact calculations, ie only rounded for display. This sometimes causes a difference of a dime between amortization displayed and decreased capital outstanding between two consecutive periods.
By enabling the adjustment of the amortization table setting, all differences are managed and the table takes into account the management of rounding; in this case the rate is recalculated taking account of these adjustments.

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