Tutorial

Example 1

Loanalyst is very easy to use. The default parameters are set to accommodate the most common loan calculations and the application offers the flexibility changing various aspect of the loan.

For example, to calculate the monthly payment for a $230,000 mortgage for 30 years at 6.75% interest rate (APR), launch the Loanalyst application and proceed as follows:

1. Enter 230000 in the loan balance field

2. Enter 6.75 in the Annual Percentage Rate field.

Note that you can not make an entry in the Periodic Payment field because it is the field that is being solved for, as indicated by its bold field label and its Unknown setting.

3. Enter 360 in the number of payments field.

4. Click on the Calculate Button or Press Alt + = to compute the results. (Note that computations will be made automatically if activated in the compute menu)

Note that the Loan Start Date was preset to today's date and the Payment Start Date were preset to one month from today. The payment and compound frequencies defaulted to monthly and the day count basis defaulted to 360. The actuarial /normal method was also selected as the calculations method.

 

Example 2

For faster re-calc results, the amortization table generation can be toggled on/off in the compute menu or by pressing ALT + T. When off, rapid automatic recalculations are more responsive especially if the amortization table is long (120 years * 12 monthly payments = 1440 payments for example).

Amortization table can also partially or completely collapsed . The Window menu or the triangular latches in the amortization table view can be used accomplish this.

 

Example 3

Begin mode is used to make calculations if payments is made at the beginning of each period and End mode is used when payments are made at the end of each period.

The calculations for example 1 and 2 used end mode. In order to use begin mode, set the payment start date to be the same as the loan start date. (As shown below).

Interest adjustments are made automatically to the loan balance depending on the payment start date.