Program Description: BIWEEKLY AMORTIZATION
THE BANKERS' SECRET IS REVEALED!!!
This program is a 16 bit version of a biweekly payment schedule that demonstrates the effect of reducing the term and interest amount of a loan. It will run under Win 95, 98, Me, NT4 & 2000. By making a loan payment every two weeks of half of the monthly payment, 26 payments are made each year. This program demonstrates the savings available to you if you pay your mortgage every other week instead of monthly and are CREDITED THE PAYMENT by the lending institution at the time of payment.
Printouts are professional looking and may be used by financial planners as the program contains a "prepared by:" area and may also be useful to them in advising a client on this method of mortgage payment by demonstrating the effect this type of mortgage has on the term of the loan as well as the total amount of interest paid.