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Added Payment Amortization+
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Version
1.2
Added Paymemt Amortization+ This program is a 16 bit
version of an added payment schedule that demonstrates
the effect of added payments to reduce the term of a
loan and also reduce the amount of interest paid. It
will run under Win3.1.
By making additional principal payments when paying
your monthly mortgage, you will reduce the term of the
loan and gain equity in your home at a faster pace. If
you decide to utilize this method of payment, be sure
that the bank or other lending institution credits the
amount against the principal of the loan each month.
Printouts are professional looking and may be used by
financial planners as they contain a "prepared by:"
area and may be useful for advising a client on this
method of mortgage payment by demonstrating to them the
effect this type of payment has on the term of the loan
as well as the total amount of interest paid.
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