Loan Simulator 2.4

Loan Simulator is a simple and powerful application for simulating loan scenarios, from auto loans to home mortgages.

A final balloon amount can be specified, as well as an additional amount added to each payment.

Double-clicking an individual payment amount in the amortization table allows setting a payment amount specific to that payment. The loan is re-amortized automatically.

Hovering over a payment in the amortization table will bring up a tooltip that displays that total principal and interest up to and including that payment. If multiple payments are selected, the tooltip will display the total principal and interest for only the selected payments.

If you are simulating an interest-only loan, Loan Simulator will ignore the Balloon Amount.

When simulating a conventional loan, the Balloon Amount must be less than the Principal Borrowed.

NOTE: To buy Loan Simulator via the App Store an Apple account is required.

Here are some key features of "Loan Simulator":

Principal Borrowed:
· A value must be present
· Must be a greater than zero
· May contain the currency symbol defined by the current locale
· May contain the number separator symbol defined by the current locale

Interest Rate:
· A value must be present
· May be positive, negative, or zero
· May contain the percentage symbol defined by the current locale
· The value is assumed to be represented as a percentage (4.5 = 4.5%)
· If the value is between 0 and 1 and the percentage symbol is not present, the value is assumed to be the numeric representation of a percentage (0.1 = 10%)

Loan Term:
· A value must be present
· Must be greater than zero
· Must be a whole number
· Can be represented as months or years (12 months per year) based on the value of the selection box

Balloon Amount:
· Optional
· If present, it must be greater than zero
· May contain the currency symbol defined by the current locale
· May contain the number separator symbol defined by the current locale
· If the loan type is Interest-Only, this value is always ignored

Requirements:

· 64-bit processor

What's New in This Release: [ read full changelog ]

· Updated settings to reflect that Loan Simulator is built for 10.7 Lion and 10.8 Mountain Lion only.