PM Mortgage Calculator v1.10

This program computes payment information for fixed rate amortized loans.
The user can supply any three of the four mortgage parameters; principal,
interest, term (# of months) and monthly payment.  The fourth parameter
is calculated automatically.

MortPM also produces a payment schedule, indicating the principal,
interest, remaining principal, and total interest on a month-by-month
basis.  MortPM takes no command line arguments.

MortPM contains entry fields for the four basic mortgage parameters and
corresponding selection buttons.  To produce a mortgage schedule, enter
three of the values into the respective fields.  Using the selection
buttons, choose the mortgage parameter you wish to determine (whatever
was entered in its corresponding field is ignored).

Pressing "compute" calculates the unspecified parameter, and fills the
lower box with the mortgage schedule.  To save the schedule, use the "save"
button (F2).  The schedule can be printed using the Print button, or by
pressing Shift-PrintScreen.

INSTALLATION

MortPM can simply be copied to the hard drive and run from a directory, or
you can use the install program.  To install MortPM, unzip it into a directory
(not the intended target directory).  Double click on the "Install.CMD" icon,
or type "install" from an OS/2 command prompt.


NOTES

If the number of payments is unspecified, it is theoretically possible to
have a loan which can never be paid.  This occurs when the specified
monthly payment is less than the interest accrued during the first month.
In this event, MortPM simply states that the loan can never be paid.

If the interest rate is unspecified, it is calculated by an iterative
algorithm.  This is because there is no straightforward method for
computing interest.  The algorithm iterates until the iterative difference
(error) between interest rates is tiny, about 0.0001%.  Although it has
yet to occur in testing, some scenarios may become unsolvable.

Every effort has been made to ensure the accuracy of this software, but
there are no guarantees (see LEGAL CRAP).

Please email any comments/questions to igloo@mc.net.

IMPROVEMENTS SINCE v1.00

- Window may be resized.  Window size is saved for next session.

- Start date may be explicitly specified.

- Schedule may be printed directly.

- Dollar amounts are now right justified.

- Font may be changed by dragging font from Font Palette.

- Keyboard-only support has been greatly enhanced.  The "principal"
  entry field has the focus initially.

- An "about" dialog has been added.

- The MortPM Icon now appears in the system menu and the minimized list.

- Accelerator key support has been added.

    F1 - About
    F2 - Save
    F3 - Exit
    F4 - Date
    F5 - Compute Principal
    F6 - Compute APR
    F7 - Compute # of months
    F8 - Compute Payment
    Shift-Printscreen - Print schedule
    ENTER - Compute

LEGAL CRAP

Software is provided "as is" with no warranty of any kind, expressed or
implied.  User assumes full responsibility for software's use.  Author
shall not be liable for any damages resulting from use of this
software.

If you can't make your mortgage payments, don't blame me!

MortPM is freeware.  Feel free to distribute the code to your heart's
content.  All I ask is that you report any bugs, suggested improvements,
and comments to igloo@mc.net.

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