TVM program update

[robert rozee]

you are right - largely my confusion.

the example i was working with was a $200,000 loan over 25 years at 10% interest rate. payments should be around $417.70 per week. to get the right results i was having to enter 25*52.2 as N and 10/52.2 as I.

by changing P/yr to 52.2 i don't need to scale I, but do still need to scale N. but being able to enter a simple equation (like "25*52.2") makes life much easier. i am setting C/yr to inf.

the question is: what numbers do banks use for the cases of weekly and monthly payments? is it 1 year=365.25 days, and 52.2 weeks in a year? or rounded to whole numbers? or do they use exact calculations and just fudge repayments individually to fit?

oh, and i can't use the cfa module as the window becomes too large and the end is below the bottom of the screen (1024x600) on my netbook. a scroll bar is needed.


rob :-)