Free Lessons
Courses
Seminars
TechHelp
Fast Tips
Templates
Topic Index
Forum
ABCD
 
Home   Courses   Index   Templates   Seminars   TechHelp   Forums   Help   Contact   Join   Order   Logon  
 
Home > Courses > Access > Seminars > Amortization >
Back to Access Amortization Seminar    Comments List
Final Payment on Loan Upload Images   Link   Email  
David Pierce      
2 years ago
Hi Rick,
I am wondering if I can adjust a paymet amount as some of my current loans have a final payment of a different amount. Lets say its a 36 month loan, payment is 250 a month for 35 months and one final payment of 223? Will this be able to calculate that so it matches my actual schedule? Let me know will you please
Scott Axton            
2 years ago
Yes the Seminar takes that into account.  It will also show you how to adjust interest as you go if someone makes extra payments toward principal.

David Pierce      
2 years ago
So the actual seminar is different than the free db example?
Scott Axton            
2 years ago
David --

There are numerous factors that go into calculation of interest and thus final payment.
Did they make late / no payments for a month? Interest would still accrue.  
Did they make extra Principal only payments?  

See the detail below  (from the screenshot above).  You can see the "normal" payment of $641.41 and the Final in Month 24 is only $625.30.

I don't know if the free sample ACCDE is the same or not. I assumed it was but didn't look at it.  Haven't tried it.  I can tell you as I stated above that this is covered in the seminar.

If you are using this to determine your actual due vs a printed schedule you will almost always find that it is different depending on time. Your schedule is only good if you follow the exact payment and time on the schedule.

This gives you a good tool to budget by,  but in real life you would still need to contact the financial institution when about to pay off a loan for the current pay off amount.
Scott Axton            
2 years ago

David Pierce      
2 years ago
Thanks, I will see if that works for me. I know the free example does not calculate properly for what I currently have. It creates it close but not the same as what i have from banks. I tried the free version with several loans and it is close, but not accurate according to what bank gave me as a schedule. I was looking at being able to put in the payment amount(s) and have it create the schedule. These banks must use something different that they calculate it with? I will play with it and see what i can come up with.
Thanks again, very nice of you to explain this.
Richard Rost             
2 years ago
Yes, the free sample and the full seminar database are completely different.

This thread is now CLOSED. If you wish to comment, start a NEW discussion in Access Amortization Seminar.
 

 
 
 

The following is a paid advertisement
Computer Learning Zone is not responsible for any content shown or offers made by these ads.
 

Learn
 
Access - index
Excel - index
Word - index
Windows - index
PowerPoint - index
Photoshop - index
Visual Basic - index
ASP - index
Seminars
More...
Customers
 
Login
My Account
My Courses
Lost Password
Memberships
Student Databases
Change Email
Info
 
Latest News
New Releases
User Forums
Topic Glossary
Tips & Tricks
Search The Site
Code Vault
Collapse Menus
Help
 
Customer Support
Web Site Tour
FAQs
TechHelp
Consulting Services
About
 
Background
Testimonials
Jobs
Affiliate Program
Richard Rost
Free Lessons
Mailing List
PCResale.NET
Order
 
Video Tutorials
Handbooks
Memberships
Learning Connection
Idiot's Guide to Excel
Volume Discounts
Payment Info
Shipping
Terms of Sale
Contact
 
Contact Info
Support Policy
Mailing Address
Phone Number
Fax Number
Course Survey
Email Richard
[email protected]
Blog RSS Feed    YouTube Channel

LinkedIn
Copyright 2024 by Computer Learning Zone, Amicron, and Richard Rost. All Rights Reserved. Current Time: 7/15/2024 5:00:56 AM. PLT: 1s