Loan Simulator is a simple and powerful application for simulating loan scenarios, from auto loans to home mortgages.
Loan Simulator offers an unparalleled feature set at an unbeatable price. But it doesn't stop there. Loan Simulator is customer driven. Since its introduction, more than 75% of new features have been requested by customers! The best keeps getting better!
The following types of loans can be simulated:
-Conventional, simple-interest loans (the "standard" loan)
-Interest-only loans
-Adjustable-rate loans
-Canadian-style loans (interest is compounded semiannually regardless of payment frequency)
Furthermore, a "balloon" amount can be set for each loan type except for interest-only. This is the final balance once all payments are made. Most loans have a final balance of zero and this is the default value.
The following payment frequencies (and compounding frequencies) are supported:
-Yearly
-Semi-Annually
-Monthly
-Biweekly (every two weeks - a fortnight)
-Weekly