|
|
|
||||||||||||||||
|
|
|
|
|||||||||||||||
in association with
Pocket WorkSheet Samples
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Sample Financial
This example is specific to Pocket Worksheet for Pocket PC 2002. This sample worksheet computes Loan Payment and Interest paid over the Total Periods or life of a loan. It also computes a Loan Amount which can be financed based on an "affordable" monthly Payment computed from a quick "budget". It demonstrates Use of values in financial calculations.
A short and long form of the worksheet are shown below. Commentary text is removed in the short form to emphasize functional content.
Short Sample Financial
0 C ShortFinancial
LOAN
PAYMENT
$ 536.82 + Payment (5%, 100,000.00, 30 Yrs, End)*
0 C
$ 93,255.78 + *Interest, Cum (5%, 100,000.00, 30/30 Yrs, End)*
0 C
$ 100,000.00 + *Principal, Cum (5%, 100,000.00, 30/30 Yrs, End)
0 C
COMPUTING
AN
"AFFORDABLE"
LOAN
AMOUNT
THE "BUDGET"
5,000 + Gross Monthly Income
3,000 - Current Expenses
2,000 = Net Income*
0 C
2,000 + *Net Income
30% - Pct for tax, insurance, maintenance
1,400 = Net Available*
0 C
6 + Current Interest*
0 C
AFFORDABLE
LOAN
AMOUNT
$ 233,508.26 + Amount (*6%, *1400/Mo, 0.00, 30 Yrs, End)
Sample Financial with Full Commentary Text
0 C SampleFinancial
Pocket WorkSheet (c) Publish or Perish Software
Press, 2002
SAMPLE
FINANCIAL
This sample worksheet computes Loan Payment and
Interest paid over the Total Periods or life of a
loan.
It also computes a Loan Amount which can be
financed based on an "affordable" monthly
Payment computed from a quick "budget".
It demonstrates the Use of values in financial
calculations.
First we'll compute a loan payment in the simplest
manner possible.
LOAN
PAYMENT
Tap menu View/Financial.
"Loan Payment" is selected in the Calculation Type
List.
Present value is the initial amount of the loan.
In this sample, the Present Value is 100,000.
Future value is 0, meaning the future loan value will
be paid off at the end.
The interest Rate is 5 (%).
The Years option is checked for a loan Period of 30
years.
Tap the Enter button on the Financial View. You can
change the Present Value, Period, or Rate values or
leave the default values as they are.
Next tap the + button on the calculator's Keypad.
That's all there is to it!
The calculator automatically generates
text describing the values the Payment is based on.
536.82 + Payment (5%, 100,000.00, 30 Yrs, End)*
Tap the CLEAR (C) button to clear the total.
0 C
Next we'll "Use" this calculation in another
calculation to compute Interest Paid over the life
of the loan.
Tap the row above containing the computed
Payment to select it. Next tap the Use button.
We are now "Using" the existing financial
calculation. We will select a different calculation
type based on the same set of values in the original
calculation.
Tap menu View/Financial. From the Calculation Type
List, select "Loan Interest, Cum".
Leave the Period as 30 Years.
Next tap the Enter button on the Financial View. Tap
the + button on the calculator's Keypad to
complete the entry.
93,255.78 + *Interest, Cum (5%, 100,000.00, 30/30 Yrs, End)*
The leading asterisk indicates this row is using
values from another row.
Tap the CLEAR (C) button to clear the total.
0 C
Next, we'll Edit values in the original Payment
computation. Scroll back to the Payment row and tap to
select it. Tap the Edit button. Change the Present
value from 100,000 to 200,000 and change the Rate
from 5 to 6.
Tap the Enter button on the Financial View, then tap
the Enter button on the calculator's Keypad to
complete the Edit.
A new "Payment" amount will be computed and the
"Interest, Cum" will also be updated based on the new
values.
Next, we'll compute the Principal Paid and will Use
the same values as the Interest paid. Tap the row
above labeled "Interest, Cum" to select it. Tap the
Use button, then tap menu View/Financial.
Select the calculation type "Loan Principal, Cum".
Tap the Enter button, then tap the + button. The
Principal paid will be computed based on the
original loan Payment values and the Period given
in the Interest row.
Since our Period is 30 -- the same as the life of the
Loan, the Principal should be the same as the original
"Present Value", or the amount borrowed.
100,000.00 + *Principal, Cum (5%, 100,000.00, 30/30 Yrs, End)
Tap the CLEAR (C) button to clear the total.
0 C
To change Periods for Interest and Principal, tap
the row labeled "Interest, Cum" to select it. Tap the
Edit key. Change the Period from 30 to 1, then tap the
Enter button on the Financial View.
Tap the Enter button again on the calculator Keypad to
complete the Edit.
This will compute the Interest paid only for the
first year of the loan.
Both the Interest and Principal will be updated to reflect the change.
COMPUTING
AN
"AFFORDABLE"
LOAN
AMOUNT
Next we'll compute a budget and "Use" the results to
compute how large a loan amount we can afford.
We'd also like to compare various interest rates.
THE "BUDGET"
First we'll compute a quick budget. Tap the Text Entry
Box and type Gross Monthly Income. Tap the number
buttons 5 0 0 0 then tap the + button.
5,000 + Gross Monthly Income
Tap the Text Entry Box and type Current Expenses. Tap
the numbers 3 0 0 0 then tap the + button.
3,000 - Current Expenses
Tap the Text Entry Box and type Net Income then tap
the = button. DO NOT type the asterisk. This will be
automatically added later when we "Use" the row.
2,000 = Net Income*
Tap the C button to Clear the Total.
0 C
We'll factor in tax and insurance, which will
reduce the overall amount that will can be applied to
the loan Payment.
Tap the row labeled Net Income to select it, then
tap the Use button, then tap the + button.
2,000 + *Net Income
Let's estimate that our property tax and insurance
will be approximately 30% of our total payment.
Let's also assume an Interest rate of 6%. Let's
say that a down payment is required but we'll not be
concerned about that now. We want to see what we
could afford to finance given our monthly net
income.
Next we'll reduced by monthly Net Income by the
percentage we estimated for tax and insurance.
Tap the MINUS (-) button. Tap the number buttons 30,
then tap the % button.
30% -
Tap the Text Entry Box and type "Net Available". Tap
the = button to display the result in the worksheet.
1,400 = Net Available*
Tap the C button to clear the total.
0 C
Next let's enter an Interest Rate which we can
modify later.
Tap the Text Entry Box and type Current Interest. Tap
the number button 6 the tap the + button. We will NOT
use a % here. It will be assumed to be a percentage
when we "Use" it in the loan calculation later.
6 + Current Interest*
Tap the C button to clear the total.
0 C
Tap the row above labeled "NetAvailable" to select
it. Tap the Use button.
Next tap menu View/Financial.
Select the calculation type Loan Amount. DO NOT tap any of
the entry boxes until you have done this.
Next tap the box under the caption Payment. The value
from Net Income will appear there with an asterisk.
Tap the Compute button to see the result with the
default interest.
Next tap the Enter button.
Scroll back up to the row labeled Current Interest.
Tap the row to select it. Tap the Use button.
Tap menu View/Financial to reopen the Financial View
and tap the box under the caption Annual rate (%).
The interest rate you selected will appear with
an asterisk.
Tap the Enter button on the Financial View then tap
the + button on the calculator's Keypad
complete the entry.
233,508.26 + Amount (*6%, *1400/Mo, 0.00, 30 Yrs, End)
THIS REPRESENTS THE LOAN AMOUNT THAT CAN BE AFFORDED
BASED ON THE VALUES ASSUMED
We can now Edit the Interest rate or "Budget"
values to see the effect on the Loan Amount we can
afford.
For example, tap the row labeled Current Interest to
select it. Tap the Edit button. Change the value to
6.5, tap the Compute button, and the new Amount
will be computed.
The Compute button allows you to change values and
see the results but your worksheet entry will be
changed only if you tap the Enter button on the
Financial View.
Copyright © 2004 Publish or Perish Software Press. All rights reserved.
