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ReadMe File for the LoanFunctions.m Package

LoanFunctions.m Package

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.

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.

WARNING: The author is not liable for any errors or omissions. For your decisions you should contact a finance professional for professional advice and to obtain the actual information that you use in your decision making process. The intent of this package is to provide some simple tools for making initial estimates, for creatively exploring options, and as a starting point for the creation of functions tailored to an individual's specific needs.

THE AUTHOR, DAVID REISS SHALL NOT BE RESPONSIBLE UNDER ANY CIRCUMSTANCES FOR PROVIDING INFORMATION ON OR CORRECTIONS TO ERRORS AND OMISSIONS DISCOVERED AT ANY TIME IN LOANFUNCTIONS.M OR ITS ASSOCIATED DOCUMENTATION, WHETHER OR NOT HE IS AWARE OF THE ERRORS OR OMISSIONS. THE AUTHOR DOES NOT RECOMMEND THE USE OF LOANFUNCTIONS.M OR ITS ASSOCIATED DOCUMENTATION FOR APPLICATIONS IN WHICH ERRORS OR OMISSIONS COULD THREATEN LIFE, INJURY OR SIGNIFICANT LOSS.

Referralware

This package is "referralware": 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 singlenon exclusive user license for this software in return for the help that you can give in helping our business to succeed.

Installing the Package

To install the LoanFunctions.m package place the folder LoanFunctions within the AddOns>Applications subdirectory of your main Mathematica directory. After you have done this, start Mathematica (if it has already been started, quit it first and restart) and then choose the Help>Rebuild Help Index menu item. In the Help Browser you will now have access to the documentation for the LoanFunctions.m package under the AddOns category. To be able to use the LoanFunctions.m package you will need a password.

Password

To use the LoanFunctions.m package you need a password. When you first try to load the LoanFunctions.m package you will be prompted for a password. A password can be obtained 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. Your email should contain your Mathematica License ID. You can find out what your Mathematica License ID is by executing $LicenseID from within a Mathematica session. (Note that your Mathematica License ID is not the same as your Mathematica password and we do not request your Mathematica password. Your Mathematica License ID stays the same even if you upgrade Mathematica to a new version. Your LoanFunctions.m password therefore will still be valid should you upgrade to a newer version of Mathematica.) Once you have obtained your password it should be pasted into the dialogue box that prompts you for a password when the LoanFunctions.m package is first loaded. The password only needs to be entered once and will automatically be placed in a file named LFPassword.m located in the AddOns>Applications>LoanFunctions subdirectory of your main Mathematica directory (assuming that you have installed the LoanFunctions.m package as per the instructions in the preceding section). (Alternatively you can create a file named LFPassword.m from within a text editor place the password in it and place it in the AddOns>Applications>LoanFunctions subdirectory of your main Mathematica directory). Once you have entered the password the LoanFunctions.m package will be operational.