uat Calculator Admin

<calculator>
 <vos>
 <common>
 <AssumptionText type="cdata"><![CDATA[Calculator InformationThe Loan Comparison Calculator calculates the total amounts payable under two alternative loans and then provides the comparative amount saved by using the lower cost loan. The two loans allow for the entry of different expense amounts, both initial and monthly ongoing. In addition, the two loans allow for the entry of different introductory interest rates and terms, with different ongoing interest rates for the balance of the loan term. The calculation is done based on the repayment frequency selected by the user, in respect of the common loan parameters entered, namely amount and total term in years. Calculator AssumptionsLength of Month All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days' interest dependent on the number of days in the particular month. Number of Weeks &amp; Fortnights in a Year One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366. Rounding of Amount of Each Repayment In practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the difference in the amount paid, i.e. the savings, by the person who chooses the loan with lower total repayments. This assumption allows for a smooth graph and uses equal repayment amounts. Amounts of Totals Payable Under Each Loan The calculator reports Total Amounts Payable under each loan. These are calculated using the unrounded loan repayments and are reported as values rounded to the nearest cent. Amount of Saving under Lower Cost Loan The calculation of the amount of repayments saved under the lower cost loan is based on unrounded payment amounts. The amount saved is quoted in dollars and cents, not rounded to the nearer dollar.The savings derived are based on the values entered for the interest rate, upfront fee and monthly fee.]]></AssumptionText>
 <Footer type="cdata"><![CDATA[Note: The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change. Results are based on information you have provided and do not take your personal circumstances into account. This calculator is not intended to be relied on for the purposes of making a decision in relation to a financial product. You should consider obtaining advice from a financial services licensee before making any financial decisions. Calculator © InfoChoice 2024.]]></Footer>
 </common>
 <loanComparison>
 <LoanType type="list">Variable,Fixed,Introductory</LoanType>
 <LoanType2 type="list">Variable,Fixed,Introductory</LoanType2>
 <InterestRate type="num" default="6.25" max="20" />
 <InterestRate2 type="num" default="7" max="20" />
 <FixedPeriod type="num" default="1" max="10" min="1" />
 <FixedPeriod2 type="num" default="1" max="10" min="1" />
 <FixedRate type="num" default="7.5" max="20" />
 <FixedRate2 type="num" default="7.5" max="20" />
 <IntroPeriod type="num" default="25" max="40" min="1" />
 <IntroPeriod2 type="num" default="25" max="40" min="1" />
 <IntroRate type="num" default="6.75" max="20" />
 <IntroRate2 type="num" default="6.75" max="20" />
 <UpfrontFees type="num" max="10000" />
 <UpfrontFees2 type="num" max="10000" />
 <MonthlyFees type="num" max="100" default="10" min="0" step="5" />
 <MonthlyFees2 type="num" max="100" default="10" min="0" step="5" />
 <MonthlyFeeSliderStepRanges value="0,100,10000" />
 <MonthlyFeeSliderStepValues value="5,500" />
 <MonthlyFeeInputMax value="10000" />
 <ExitFees type="num" max="10000" />
 <ExitFees2 type="num" max="10000" />
 <FixedRateFee type="num" max="10000" />
 <FixedRateFee2 type="num" max="10000" />
 <LoanAmount type="num" default="300000" min="30000" max="10000000" step="1000" />
 <LoanTerm type="num" default="25" min="1" max="40" />
 <Repayments type="list">Monthly,Fortnightly,Weekly</Repayments>
 <LoanTypeForm label="Loan Type" />
 <LoanType2Form label="Loan Type" />
 <Loan1Label type="string" value="Loan 1" />
 <Loan2Label type="string" value="Loan 2" />
 <Loan1TableHeading type="string" value="Loan 1" />
 <Loan2TableHeading type="string" value="Loan 2" />
 <LoanComparisonResultHeadingPostfix type="string" value="" />
 </loanComparison>
 </vos>
</calculator>

uat Calculator Admin

Global Settings > Loan Comparison Global Settings