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<calculator>
  <vos>
    <common>
      <AssumptionText type="cdata"><![CDATA[<p><b><font size="+1">Calculator Information</font></b></p><p>The Mortgage Offest Calculator calculates the time saved to pay off the loan and the amount of interest saved if repayments are increased by the entered amount of extra contribution per repayment period after the loan has been in force for the entered number of years. 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.</p><br /><p><b><font size="+1">Calculator Assumptions</font></b></p><p><b>Length of Month</b></p><p><br />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.<br /></p><p><b>Number of Weeks &amp; Fortnights in a Year</b></p><br /><p>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.</p><br /><p><b>Rounding of Amount of Each Repayment</b></p><p><br />In 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.</p>]]></AssumptionText>
    </common>
    <mortgageOffset>
      <LoanAmount type="num" default="300000" min="30000" max="2000000" step="1000" />
      <LoanTerm type="num" default="30" min="3" max="40" />
      <InterestRate type="num" default="4.89" max="20" />
      <OffsetAccountBalance type="num" default="0" min="0" max="1000000" step="1000" />
      <OngoingDeposit type="num" default="0" min="0" max="100000" step="100" />
      <YearsIntoLoanOffset type="num" default="0" min="0" max="40" />
    </mortgageOffset>
  </vos>
</calculator>

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