=========================
B I C I 0
MORTGAGE
REPAYMENT
CALCULATOR
£25,000.00
14.00%
25
Start
~xamples
1
2
3
4
5
6
7
8
9
10
11
12
A
Loan
Int
rate
Term
Annual
Monthly
REPAYMENTS
£3637.46
£303.12
E
Mnth
4
(April)
Mortgage Repayment
Table
30
Figure
5.7
Calculating
the
repayments.
[H4J
askn(
II
Percentage
interest
rate")
[B5]
"Int
rate
[C5]
h4/100
[B6]
"Term
[C6]
askn(IIPeriod
of
Loan
in
years
(maximum
35]")
[E5]
"Mnt
h
[06J
"Start
[E6]
askn("Month
of
first
payment
[Jan=1,
Feb=2,
etc]")
[E7]
'('
+
month(e6)
+
")"
In
this
last
formula
we
enclose the
literal
text
with
single quotation marks
If
the
first
character had been a double quote, Abacus would have interpreted the
follOWing
characters
as
text Input, rather than a formula.
[08]
"REPAYMENTS
[09]
rept("-",
len(dB))
[C10]
"Annua
L
[0101
mor.Loan*mor.int/(1-(1+mor.intJ
A
(-mor.term))
This formula, which calculates the annual repayment, assumes that the interest
IS
calculated annually and added
to
the loan before the twelve monthly repayments are
made.
[C11]
"MonthLy
[011]
ann.
rep/12
[012]
d9
The grid
is
now sufficiently complete
to
calculate mortgage repayments.
Try
uSing
the
Xecute command and enter the figures requested,
so
that you can
see
it
working.
To
make the example look better
we
can change the format
of
some
of
the numbers
with the Units cOMmand.
In
this example there
is
no need
to
alter the default numeric
format since you do
not
need
to
make new entries
In
any grid cell once the application
is
completed.
Units,
CeLLs,
Percentage,
DecimaL
pLaces
2,Range
cS
Units,CeLLs,Monetary,Minus
sign,
Range
c4
Units,CeLLs,Monetary,Minus
sign,Range
d10:d11
In
addition
it
Improves the appearance
If
we
move the numbers
in
rows
4,
5 and 6
to
the left hand side
of
the
cells:
Justify,CeLLs,Numbers,Left,Range
c4:e6
This section describes how you can add a repayment table
to
the mortgage calculator.
The
first
part
of
a repayment table
for
the values appearing
in
Figure 5.7
IS
illustrated
in
Figure
5.8.
12/84
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