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<calculator> <vos> <common> <ProductFeed value="true" visible="false" /> <ProductFeedURL value="https://aws-uat.infochoice.com.au/ich/handler/reportHandler?reportId=422&reportView=ProductList&reportOutput=Xml&skinId=1" /> <!-- <AssumptionText type="cdata"><![CDATA[ <p><b><font size="+1"> Calculator Information</font></b></p> <p> The Loan Repayments Calculator gives an indication of the type of repayment required and the total interest payable, at the frequency requested, in respect of the loan parameters entered, namely amount, term and interest rate.</p> <div class="ic-hrline"> </div> <p><b><font size="+1">Calculator Assumptions</font></b></p> <strong>Length of Month</strong><br /> <p> All months are assumed to be of equal length. In reality, many loans accrue interest on a daily basis which means monthly interest charges may vary depending on the number of days in the particular month.</p> <strong>Number of Weeks & Fortnights in a Year</strong> <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> <strong>Rounding of Amount of Each Repayment</strong> <p> 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> <strong>Interest Rate</strong> <p> The interest rate used in this calculation is the ING Orange Advantage Rate for investment purposes (which is a variable interest rate based on principal & interest repayments) and may change at any time without notice.</p> ]]></AssumptionText>--> </common> <loanRepayments> <InterestRate type="num" default="5.42" max="20" /> <LoanTerm type="num" default="25" min="1" max="30" /> <FixedPeriod type="num" min="0" default="2" max="5" /> <LoanAmount type="num" default="300000" min="40000" max="3000000" step="1000" /> <LoanAmountRanges value="0,1000000,2000000,5000000" /> <LoanAmountValues value="10000,50000,200000" /> <LoanAmountInputMax value="5000000" /> </loanRepayments> </vos> <components> <ShowPoweredByInfochoice value="false" /> <ShowInfochoiceLogoOutsideIframe value="true" /> <InterestSavedForm label="Interest you <br>could save" /> <TimeSavedForm label="Time you <br>could save" /> <IncreasedRepaymentAmountForm label="Increased <br>repayment <br>amount" /> </components> </calculator>
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