All Forum Posts by: Mike Jones

Alright guys, I ended up buying the standard version of a program called Margill for around $150. I has the required functionality and seems to do the most precise interest calculations of the 6 odd programs that I tried. Thanks again.

Thanks Ann, I'll try their demo.
Thanks Jon, I figured it was something like that. And the 'mortgage note' is basically just the initial contract, right?

My uncle says he will show me how to do these monthly compounding calculations on irregular payments, but they are perplexing. So the task is to find a program that takes care of it.

Cool. Thanks. I'll check out that program. You kind of lost me with your second comment...what do you mean by 'trying to create paper'?

Hello, I am a beginner lender, although I have my uncle guiding me who is more experienced. I am looking for a program to calculate my irregular loans. So far, the programs I have found do an inadequate job with monthly compounding. E.g. if there are two payments instead of one spaced within a month the program will compound interest twice during that month instead of once. Does anyone know of a program that can do monthly compounding on irregular loans without over-compounding? Or can someone explain to me how to calculate this out manually. I just want the calculations done properly so I'll be covered if I ever end up in court. Thanks.