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LoanFunctions.m Package

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LoanFunctions.m is a package containing functions that help in calculations of certain loan costs: for estimating home purchase costs and performing other loan calculations. Its original intent was to provide functions that perform cost calculations for the purchase of a single family home; however, the functions are somewhat more general than that and can therefore be used in a variety of other situations.


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Version 1.1




Amortization Tables:



The assumptions used in this package are that the payment periods are equal in length and that interest is compounded once per payment period at the end of that period. If you are making payments on a loan that, for example, is compounded once per month based on the number of days in that month then the functions in this package will give results that are slightly different than those that correspond to such a circumstance.

This package is "referral ware": if the package is of use to you then you are requested to suggest the services of Scientific Arts to friends and colleagues and to pass on potential contacts to Scientific Arts. In this case Scientific Arts provides you with a single non exclusive user license for this software in return for whatever help you can give in helping our business to succeed.

To use the package you will need a password which is available by sending email to info@scientificarts.com. The password will allow you to use the package with a single license of Mathematica. Your email address will not be used for any other purpose than to send you the password and an associated message. You will not be contacted further unless you request it.

The LoanFunctions.m package was written with Mathematica version 4 and will work with version 4 or greater. However, most of the functions will also work in Mathematica version 3.


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