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<calculator>
  <vos>
    <common>
      <AssumptionText type="cdata"><![CDATA[<p><b><font size="+1">Calculator Information</font></b></p><p>The 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.</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 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.</p><br /><p><b>Amounts of Totals Payable under each Loan</b></p><p><br />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.</p><br /><p><b>Amount of Saving under Lower Cost Loan</b></p><p><br />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.</p><p>The savings derived are based on the values entered for the interest rate, upfront fee and monthly fee.</p>]]></AssumptionText>
    </common>
    <loanComparison>
      <Loan1Label type="string" value="Loan 1" />
      <Loan2Label type="string" value="Loan 2" />
      <LoanTypeForm label="Loan Type" />
      <LoanType2Form label="Loan Type" />
      
    </loanComparison>
  </vos>
</calculator>

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