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Tech Note: Exploring the Loan Tool Database
Published On: August 31, 2001

The Loan Tool is an intermediate example database written by Tad Michael Wheeler of DataCraft. The Loan Tool database allows the user to calculate the amount of money they can afford to borrow, the type of payment (weekly, monthly, yearly, etc.), the interest rate of the loan, and the length of time it will take to pay off the loan. Once either of theses amounts has been calculated, the user can then set up their payment details by entering the date the user will be make their first payment. The Payment Details displays the due date, start balance, payment, principal, interest, cumulative interest, and ending balance for each payment date. The Quick Entry part of the demo will calculate the payment after entering the necessary information. Basically, the Quick Entry is the same as the main input form, however it does not break down the information into as much detail.

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