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<calculator>
 <vos>
 <common>
 <AssumptionText type="cdata"><![CDATA[Calculator InformationThe Lump Sum Calculator calculates the time saved to pay off the loan and the amount of interest saved if a single additional lump sum repayment is made, equal to the entered amount of additional lump sum repayment after the loan has been in force for the entered number of years, in addition to continuing the regular repayments. The calculation is done at the repayment frequency entered, in respect of the original loan parameters entered, namely amount, annual interest rate and term in years.Calculator AssumptionsLength of MonthAll 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 YearOne 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 RepaymentIn practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts. Note that the final repayment, after the additional lump sum repayment amount, will be a partial repayment as required to reduce the loan balance to zero.Amount of Time SavedThe time saved is presented as a number of years and months/fortnights/weeks, based on the frequency entered by the user.Amount of Interest SavedThe amount of interest saved is approximated from the amount of time saved.]]></AssumptionText>
 </common>
 <lumpSum>
 <LoanAmount type="num" default="300000" min="30000" max="2000000" step="1000" />
 <LoanAmountRanges value="0,1000000,2000000,5000000,10000000" />
 <LoanAmountValues value="10000,50000,200000,500000" />
 <LoanAmountInputMax value="10000000" />
 <LoanTerm type="num" default="25" min="3" max="40" />
 <InterestRate type="num" default="3" max="20" min="0" />
 <FixedPeriod type="num" default="5" max="10" />
 <FixedRate type="num" default="7.5" max="20" />
 <IntroPeriod type="num" default="4" max="40" />
 <IntroRate type="num" default="6.75" max="20" />
 <LoanType type="list">Variable,Fixed,Introductory</LoanType>
 <Repayments type="list">Monthly,Fortnightly,Weekly</Repayments>
 <RepaymentType type="list">Principal &amp; Interest,Interest Only</RepaymentType>
 <LumpSumAmount type="num" default="10000" max="1000000" step="1000" />
 <LumpSumPaidAfter type="num" default="3" min="1" max="30" />
 </lumpSum>
 </vos>
</calculator>

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uat Calculator Admin

Global Settings > Clients > LaTrobeFinancial > Lump Sum Repayment View Merged XML View Loader Script