                                  
                                  BANKONIT
                                VERSION 4.21
                
                A Mortgage and Interest Calculation Program

         NOTE: While every effort has been made to insure accurate
     calculations by this program, you should not rely on this program
       alone to make any single financial decision. Seek appropriate
                  advice before making any such decision.
                            
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           THIS IS THE HELP FILE!! DIRECTIONS ON HOW TO START ARE
                           FOUND ONE SCREEN BELOW.
           
           TO RETURN TO THE BANKONIT PROGRAM FROM THIS HELP FILE - 
                          JUST TOUCH THE LETTER Q
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                             Also from the author:
                  
                 VOCABUCOMP - A flashcard-like vocabulary review
              program, especially good for at-home review.  ($19.95)
     Registration permits unlimited duplication for your own students' use.
             
             ATTENDANCE MONITOR - Monitors attendance with full report 
        features. Imports GRADE PLUS files.  Quick entry of data.  ($19.95)

                  JUST TO QUOTE - Provides a quote-for-the day
     when you start up the computer.  Positive, thoughtful quotes. ($19.95)
               
               GRADE PLUS - Full featured grading program.
         Points, percents, letter grades.  Many reports. ($29.95)

      BANKONIT - Easy to use.  Mortgages, routine compounding of interest.
        Good with prepayments to mortgages - shows how well they work, 
       stores your mortgage payment records, with prepayments. ($19.95)

      UNREGISTERED VERSIONS/EACH:  $4.95    REGISTERED VERSIONS: AS PRICED 
                  INCLUDE CORRECT DISK SIZES WITH REQUEST TO:   
             William E. Peace P.O. Box 627 South Dennis MA 02660-0627

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                                 CONTENTS

                       ---->   A.  QUICK START

                       1.    PROGRAM REQUIREMENTS
                       2.    INSTALLATION & STARTUP
                       3.    FILES ON DISK
                       4.    USE OF PROGRAM - COMMANDS
                       5.    INSTALLATION TO WINDOWS
                       6.    COPYRIGHT

                ---->      B.  DETAILED INFORMATION

                    7-30.    INDEX AT BEGINNING OF SECTION

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  1
                       BANKONIT -- PROGRAM REQUIREMENTS
 
                 SYSTEM REQUIREMENTS: DOS 2.1 or higher, 384K.
           A hard drive, color monitor, and a printer are optional.

 ----------------------------------------------------------------------------
  2                      
             ----->        INSTALLATION/STARTUP

          FOLLOW THESE INSTRUCTIONS TO RUN THE PROGRAM FROM THE DISK
  
      1.  Copy the COMMAND.COM file from your DOS disk to the program disk.
       
       2.  Type in the letter drive letter ---  example:   A: <enter>   
  
                 3.  To run the program:  BANKONIT <enter>
                     To run in monochrome:  BANKONIT m <enter>        
            

             ----->       HARD DRIVE INSTALLATION

   A hard drive is optional but provides quicker functioning of this program.

     To install the program on the hard drive, insert the program disk
                    in drive A and type INSTALL <return>
                 Follow the instructions that you will see.


             ----->               STARTUP

        1.  To learn to use BANKONIT, first install to the hard drive
                      using the command  INSTALL <enter>

    2.  The program will start automatically once installation is complete.

                        To run at other times,  type
                                    C:
                                    CD BANK
                                    BANKONIT     (BANKONIT m for monochrome)

       3.  From the menu, you should pick HELP. You will see this manual.
                 You can also run this manual help by typing
                                    C:
                                    CD BANK
                                    READNOW      (READNOW m for monochrome)

            4.  You may also choose to print this manual once you
                         access either HELP or READNOW.

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  3
                             FILES ON THE DISK

       A complete list of all files on the disk is contained in the
      file named FILES found on the program disk.  You can look at it
              with a word processor or the DOS TYPE command.
                               
                             SETTING UP DISKS 

       PREPARATION OF PROGRAM DISK: The program disk is ready to
     use. NEVER DELETE, ALTER, OR RENAME ANY FILES ON THE DISK OR YOUR
      PROGRAM MAY MALFUNCTION. DO NOT PLACE A WRITE PROTECT TAB ON THE
       PROGRAM DISK!! Simply follow the commands on the disk label. 
        
        NOTE: IF YOU SEE THE "INSERT DISK WITH COMMAND.COM" MESSAGE,
       you should insert your DOS disk.  Your computer is just looking
       for the DOS disk at that time.  You can save having to see that
       message by copying your DOS COMMAND.COM file to the program disk.


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  4                   
                               USE OF PROGRAM
                           
             ----->             MENU COMMANDS

                 NO MOUSE???  USE THE ALT KEY TO ACCESS MENUS!

  To choose a particular menu command, you may use the mouse or you may use
  the ALT key together with the letter that becomes highlighted when you
  press the ALT key.  You may also use the arrow keys to move through the
  menu lines, up/down/left/right keys all work once you are in the menu line
  (with the ALT key).

  MORTGAGE CALCULATIONS     <-----
        
        Calculate Mortgage Payment
                Use this section to find the monthly payment required
                to pay a particular principal off in a particular time
                at a particular interest rate.
        Calculate Mortgage Principal
                Use this section to find the total principal that you
                can borrow for a particular monthly payment and interest
                rate.
        Calculate Mortgage Period
                Use this section to find the time required to amortize
                a mortgage given a particular monthly payment, interest
                rate, and principal balance to start.
        Diplay Full Amortization Schedule
                Shows on the screen a full schedule for amortization of
                a mortgage, monthly payments of interest and principal
                as well as balance before and after payment.
        Print Full Amortization Schedule
                Prints to the printer a full amortization schedule.
        Exit
                Use this section to exit from the program completely.


  MORTGAGE RECORDS      <-----
        
        Get Mortgage Payment Record
                Once a record has been saved to the disk, use this section
                to look at a full record of all payments made on a particular
                mortgage, or to record additional payments.
        Print Mortgage Payment Record
                Use this section to print a full record of all payments made
                to a particular mortgage.
        Create Mortgage Payment Record
                Use this section to enter the initial principal, interest
                rate, and frequency of payment for a mortgage.  Then you
                can access the record (usually each month) to keep an
                accurate, up-to-date record of mortgage payments, including
                prepayments.

  INTEREST CALCULATIONS     <-----

        Calculate Future Value
                Use this section to find what the value of an investment
                at a certain percent will be at a given time in the future.
        Calculate Period
                Use this section to find out how long it will take for
                an investment at a certain percent to grow to a particular
                value.
        Calculate Interest Rate
                Use this section to find out what interest rate would be
                required to make an investment grow to a particular value
                in a certain amount of time.
        Calculate Present Value
                Use this section to find out what amount you need to invest
                at a given rate for a given time in order for it to grow
                to a particular size.
        Compare Compounding     
                Use this section to show how daily, quarterly, monthly
                compounding (and others) compare to one another and influence
                your overall gain on an investment.

  HELP        <-----
        
        Help
                 Use this section to see this manual on the screen.  
                 A menu allows for search and for printing.

  REGISTER    <-----
        
        Registration
                 Use this command to print an order/registration form 
                 that can be used to register and obtain a registered 
                 copy of the program.


  EXIT       <-----

        Exit
                 Use this section to leave the program.

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  5                   

                        INSTALLATION TO WINDOWS 3.1

                  NOTE: How to print this MANUAL is found above.

     Follow these steps to install BANKONIT to WINDOWS 3.1. This
       procedure will enable you to run BANKONIT from WINDOWS.

    1.  First get to DOS.  Place program disk in drive A and type INSTALL 
    <enter> to install the program to your hard drive FIRST.
    2.  Start WINDOWS and click once on the APPLICATIONS title line or on
    the window of your choice.
    3.  Click once on the word FILE in the top left of the screen.
    4.  Click once on the word NEW.
    5.  Click once on the bullet to the left of "PROGRAM ITEM" and then
    click on OK.
    6.  In the DESCRIPTION LINE, type  BANK ON IT
    7.  Tab to the next line and type  BANKONIT.EXE     
    8.  Tab to the next line and type  C:\BANK
    9.  Click on  CHANGE ICON and then click on OK on the reminder that
    there is no icon.
    10. If the filename is not c:\windows\progman.exe then type
    c:\windows\progman.exe
    11. Then click on the right hand arrow below the icon pictures.
    Use the arrows to pick an icon that you like for this purpose. Then
    click on OK.
    12. When returned to the properties list, click OK.
    13. You are all set and ready to go.  BANKONIT is Windows
    compatible, but does not use the Windows interface internally.

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 6
                                COPYRIGHT

                        Contents of Manual and Programs
          Copyright 1995 by William E.  Peace.  Duplication for fee,
           in whole or in part, by any means, is forbidden without
           express written consent of the author and the publisher.
                   
                   PLEASE BE FAIR AND CONSIDER THE AUTHOR.

       Please -- the author worked long and hard writing and having this
     program field tested.  He is an everyday person like yourself, and is
          asking for you to be fair.  Your registration will be truly
                                  appreciated.

        Please -- it is a violation of copyright law to use this program
        without registering.  And even more-- it's just not fair to the
            author.  Think about how much benefit YOU get from this
        program!  Registered users will receive the most recent program 
                          version automatically sent.

                  PLEASE USE THE ORDER/REGISTRATION FORM TO
                PROPERLY REGISTER OR TO OBTAIN UPDATED VERSIONS.

         International Registrants: Please use US funds and please add
                  $2 US additional for international postage.

                           Thank you from the author,
             WILLIAM E.  PEACE P.O.  BOX 627 SOUTH DENNIS, MA 02660

              Your comments and suggestions are more than welcome.

         MS-DOS IS A TRADEMARK OF MICROSOFT CORPORATION PORTIONS OF THE
       COMPILED PROGRAMS ARE FROM COMPILERS COPYRIGHTED BY THE MICROSOFT
                                  CORPORATION.


00OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
                       
         ----->        B.    DETAILED INFORMATION
                       
                       7.   WHY I WROTE THIS SOFTWARE
                       8.   ABOUT PREPAYING MORTGAGES
                       9.   CALCULATE MORTGAGE PAYMENTS
                      10.   CALCULATE PRINCIPAL
                      11.   CALCULATE MORTGAGE PERIOD
                      12.   DISPLAY FULL AMORTIZATION SCHEDULE
                      13.   PRINT FULL AMORTIZATION SCHEDULE
                      14.   STORE/REVIEW MORTGAGE PAYMENT RECORDS
                      15.   PRINT STORED PAYMENT RECORDS
                      16.   CALCULATE SIMPLE OR COMPOUND INTEREST
                      17.   ADJUSTABLE RATE LOANS
                      18.   ERROR MESSAGES
                      19.   FROM THE AUTHOR
                     
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  7 
                         WHY I WROTE THIS SOFTWARE
                         A MESSAGE FROM THE AUTHOR

     For years, I have been calculating interest and trying to keep
     ahead of the banks. Banks do make occasional mistakes.
     Unfortunately, most people would never notice them. The problem
     for most folks is that they have no way of "checking up" on the
     banks-- compound interest is not so easy with a hand calculator;
     even with a computer, interest calculations can be confusing.

     Many of the programs that I have seen that do interest
     calculations are difficult to use. That is why I wrote this
     program -- to do better, especially with regard to bank deposits,
     standard mortgages and most especially, PREPAYMENTS TO MORTGAGES.
     What makes this program DIFFERENT FROM OTHER MORTGAGE programs
     is its clarity and ease of handling PREPAYMENTS TO MORTGAGES.
     The idea is to SAVE YOU SOME MONEY!!

     I routinely use this program to monitor interest payments that
     banks make to me or that I have to make myself to them. I have
     found dozens of interest rate "calculation errors" during the
     time in which I have used this program, many of which were caused
     by incorrect keying of compounding information at the
     bank. Without a program like this, I could not have detected the
     differences. AND: I HAVE BEEN PAID THE DIFFERENCE.

     Using the information in this program, I have saved myself
     thousands of dollars in interest costs on a fairly small mortgage
     on my own home. For several years, I have wished that I had a way
     to let more people know about the method that I used and the
     mathematics behind it, but it is hard for people to see how
     compounding can work wonderfully IN THEIR FAVOR unless they see
     the actual numbers that pertain to their own circumstances. It is
     for this reason that I have released this program to the
     SHAREWARE networks across the United States.

     This program IS COPYRIGHTED.  Only the outlet from which you
     purchased a copy of the program is authorized to duplicate it.
     This is to prevent inaccurate copies from being distributed.
     
     If you USE this program, please be honest.  I am trying to help YOU
     by releasing this program, and I am also trying to make some money
     to save for my children's education -- honest! 
     
     If you use this program to calculate some of your own mortgages 
     or loans or accounts, please remember that the program is so easy 
     to use and so useful because of the long time put into it by 
     the author -- me.  Don't I deserve something in return for that 
     effort?  I am asking only $20 if you USE the program-- a
     lot less than you could save with this program -- but whatever you
     see fit would be appreciated.  There is an invoice on the disk, but
     you can use any form -- let me hear from you if YOU think you'll be
     saving some money, too.

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  8
                         ABOUT PREPAYING MORTGAGES


     Prepayment is paying EXTRA on the PRINCIPAL. Some mortgages have
     penalties for prepayment. If that is your case, you probably
     cannot benefit from this technique. Most mortgages, however, have
     no prepayment penalties. The concept of PREPAYMENT has been
     favorably discussed in national money-oriented magazines during
     the last several years. When loan rates are very low, prepaying
     does not make a lot of sense, but when loan rates are higher than
     you can get investing elsewhere, then PREPAYING MAY BE YOUR BEST
     INVESTMENT.

     Why would you want to pay EXTRA?  Print out one of the
     amortization schedules.  Notice that the INTEREST to the bank
     starts off HIGH and stays HIGH for MOST of the mortgage.  It is
     not until the end that the INTEREST payments drop off quickly.
     That's why banks write mortgages!  The math is in their favor!

     Notice that the payments to principal start out VERY LOW and stay
     VERY LOW for MOST of the mortgage. It is not until the end that
     the PAYMENTS TO PRINCIPAL start to rise quickly. Its the PAYMENT
     TO PRINCIPAL that builds YOUR EQUITY. Mortgages are DESIGNED to
     keep this value LOW as long as possible, so that the LENDER MAKES
     MORE MONEY.

     Now, what would happen if you PAID EXTRA TO THE PRINCIPAL for
     just one month? Let's say you PREPAY AN EXTRA $100 TO THE
     PRINCIPAL. What effect will that have? Your interest payment the
     VERY NEXT MONTH WILL BE LOWER. And the interest you pay EVERY
     SINGLE MONTH FOR THE REST OF THE MORTGAGE will be lower also.
     The other side of the coin is this: THE AMOUNT THAT GOES TO YOUR
     PRINCIPAL WILL ALSO BE CHANGED. Every single month, for the rest
     of the mortgage, MORE MONEY WILL GO TO YOUR OWN EQUITY. What's
     more is this: as time goes on the amounts INCREASE MONTHLY IN
     YOUR FAVOR.

     What would be the result of prepaying more than one time? If you
     were to prepay the mortgage every single month, for example, the
     interest that you pay to the bank would continue to drop every
     month MUCH MUCH FASTER THAN IT OTHERWISE WOULD HAVE. The money
     that would otherwise go to the bank WILL GO TO YOUR PRINCIPAL--
     TO YOU.  The earlier in the mortgage you begin prepaying, the
     more money you will save.

     It is ABSOLUTELY AMAZING how much difference this can make.  You
     can save hundreds of thousands of dollars of interest by
     investing only a few thousand dollars a year extra into
     prepayments of your mortgage.  Unless you see the numbers, you
     won't believe it, and even if you do see the numbers, you still
     might not believe it.  I have explained this method to bank
     officers who were amazed at the actual figures when
     they saw them.
     
     So-- here's the program! Try it! PLAY WITH IT AND LEARN! For
     example, try SECTION D to test out prepayments to your mortgage.
     Try a mortgage of $100,000 at 10% with no prepayment. Then try
     one with everything the same except for a monthly prepayment of
     $100, $200, or more. You'll be shocked at the difference that it
     makes. Notice that the loan takes a much shorter time to pay, and
     that the total amount of interest paid to the bank is much, much
     less if you prepay on a frequent basis.

     Some people figure that they would be better off with a shorter
     mortgage. (example: 15 years instead of 30) Sure, you will pay
     less total interest, but your REQUIRED PAYMENT will be higher. If
     you get the longer mortgage (WITH NO PREPAYMENT PENALTIES) and
     VOLUNTARILY MAKE A HIGHER PAYMENT, you will still save, but not
     be committed to the higher amount should something go wrong,
     sickness for example.

     The twice monthly payments that some "PROGRESSIVE" banks are
     marketing are just a way to cause you to prepay by making one
     extra payment each year. Of course, this works well to reduce
     your total interest payments.  However, you may be locked into
     this type of prepayment, whereas a voluntary prepayment system
     can be terminated at any time.  Additionally, a voluntary system
     can put much more into the principal earlier than the biweekly
     system can do.  The BANKONIT program will calculate amortizations
     of biweekly payments.

     Some cautions: If you can risklessly invest the money somewhere
     else and earn a higher rate than your mortgage rate, then
     prepaying would not be sensible. But first, is that investment
     GUARANTEED to yield such results? Prepaying the mortgage is a
     RISKLESS investment. (Unless, of course, your property value
     DECLINES.) You can always borrow the money again.

     Second, if you can get someone else's money (tenants, for
     example) to pay the mortgage, then you may do better in the long
     run by having less of your own equity in the mortgage. This is
     the traditional argument for high leverage realty investing.

     Third, prepayment will of course lower your tax deduction due to
     mortgage interest. However, the amount that you save will far
     outweigh the amount lost to increased taxes. Think about it:
     would you rather give the bank $10 and the government nothing or
     give the government $3 and keep $7 yourself? Keep the $7! All
     that matters is how much money YOU KEEP! not where the rest goes.
     That's all that the "interest deduction" is all about. Don't get
     taken by that old argument.

     Finally, PREPAYING requires self discipline, because it is
     voluntary.  IF you have little self discipline, then a shorter
     mortgage or a twice monthtly payment schedule might be better for
     you.

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  9
                        CALCULATE MORTGAGE PAYMENT

     This section will find your monthly payment for your mortgage.
     It will ask you to input the interest rate in percent, the
     principal (amount) of the loan, and the length of the loan in
     years.  The section will then calculate the payment that would be
     required to amortize the loan that you had described.

     To calculate the payments for a biweekly mortgage, use the
     monthly figure and divide that by two.  That would be your
     biweekly payment.  
     
        example:  enter an INTEREST RATE of 10
                  a PRINCIPAL of 80000
                  and a LENGTH OF LOAN of 30

        result:   360 monthly payments of $702.06

        example:  enter an INTEREST RATE of 12
                  a PRINCIPAL of 80000
                  and a LENGTH OF LOAN of 30

        result:   360 monthly payments of $822.89

                  BIWEEKLY MORTGAGE WOULD BE: 822.89/2 or 411.45

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   10
                              CALCULATE PRINCIPAL

     This section will find the principal that you can afford, given
     the interest rate in percent, the monthly payment that you can
     make and the length of the loan that you will have in years.

        example:  enter an INTERST RATE of 10
                  a MONTHLY PAYMENT of 750
                  and a LENGTH OF LOAN of 30

        result:   PRINCIPAL WOULD BE: $85463


        example:  enter an INTEREST RATE of 12
                  a MONTHLY PAYMENT of 750
                  and a LENGTH OF LOAN of 30

        result:   PRINCIPAL WOULD BE: $72914

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   11
                         CALCULATE MORTGAGE PERIOD

     This section will calculate the length of time to amortize a
     mortgage.  It asks you for the interest rate and the principal as
     well as the monthly payment.

        example:  enter an INTEREST RATE of 12
                  a PRINCIPAL of 80000
                  and a monthly payment of $822.89

        result:   PERIOD IN MONTHS WOULD BE:  360


        example:  enter an INTEREST RATE of 12
                  a PRINCIPAL of 80000
                  and a monthly payment of 600

        result:   CALCULATION INDICATES INFINITELY LONG PAY PERIOD
                  INCREASE PAYMENT.  (in other words, you won't get
                  an $80000 mortgage at 12% and be able to pay only
                  $600)

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   12
                      DISPLAY FULL AMORTIZATION SCHEDULE


     This section displays on the screen a standard amortization
     schedule for a loan, with amount being applied to interest and to
     the principal being shown for each payment, and the principal
     balance that still remains. Also shown is a SPECIAL FEATURE,
     prepayments to principal.

     As the schedule will be printed with dates, enter the year (TWO
     DIGITS) and the month (CAPITALS).  Biweekly schedules do not have
     date markers.

     The monthly prepayment to principal would normally be ZERO.
     However, if you prepay the mortgage monthly, the total interest
     that you pay will be drastically reduced.  TRY IT.  (SEE THE
     INFORMATION ABOUT LOAN PREPAYMENTS FOUND IN SECTION 8 ABOVE.)
     For example, try a schedule with 0 for prepayment and then see
     what a difference it would make to prepay just $50 extra each
     month.  Look at the TOTAL interest paid, and the length of time
     it takes to AMORTIZE or pay off the loan.

     The principal, interest rate, and monthly payment are also
     requested.  If you don't know the monthly payment, then the
     program will calculate it for you if you tell it the length of
     the loan (period) in months. (A 30 year mortgage is 360 months; a
     25 year is 300 months; 20 year is 240 months; a 15 year is 180
     months.)

     The amortization chart is quite informative and easy to read.
     Stop at any time by touching the E key.

     If you choose biweekly payments, the monthly payment is divided
     by two for you to obtain the biweekly payment.  Since 26 payments
     are made each year, the loan amortizes at a faster pace than with
     monthly payments alone.  Prepayments are also divided by two.

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   13                  

                      PRINT FULL AMORTIZATION SCHEDULE

     This section functions identically to the previous section, except that 
     the schedule is printed to the printer.
                 
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   14              
                    STORE/REVIEW MORTGAGE PAYMENT RECORDS

     The purpose of this section is to keep a permanent record of your
     own mortgage payments.  With it, you can know just how your own
     mortgage is progressing-- how much you still owe and how long you
     still have to pay.  If you decide to prepay the mortgage, this
     section can handle all the details.

     The section will ask you if you want to CREATE a storage file or
     GET a file that you have already created. You can store the file
     on any formatted disk. Give it any name (DOS acceptable filename,
     that is) that you wish. You can make other files on the same
     disk; just use different names. Use disk drive A B or C ,
     whichever you choose. You can store an entire mortgage payment
     record but only view the part you want to; that is why the
     program asks what years you want to view. To make this part
     function properly, be certain to enter all dates as the screen
     indicates.

     The record itself appears much like the amortization schedule
     from the previous sections.  This is to help you in comparing your own
     mortgage with other possibilities.

     Remember to SAVE your mortgage record to the disk after you have
     finished entering payments to the record.  It is not
     automatically saved.

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   15     
                         PRINT STORED PAYMENT RECORD

     This section prints to the printer the payment record stored in
     the previous section.

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   16

                   CALCULATE SIMPLE OR COMPOUND INTEREST

     This section is designed to calculate compound interest payments,
     on certificates of deposit or savings accounts, for example. The
     future value is the standard term used to describe the value of
     an investment at some time in the future. The present value is
     the value currently. For example, if you invest $100 in a 5%
     simple interest savings account, the future value 1 year from now
     would be $105.

     Notice that compounding techniques make a big difference in rate
     of return. Daily compounding is best, but is difficult to obtain
     these days. You may need to really investigate to find out what
     divisor your bank uses; many employees of the bank may not know.

     In this section, D stands for daily, Q for quarterly, M for
     monthly, S for semi-annually, A for annually, and N for no
     compounding.

        example:  FIND THE FUTURE VALUE  (a on interest menu)
                  enter INTEREST RATE of 12
                  enter Q for quarterly compounding
                  enter BEGINNING BALANCE of 45
                  enter NUMBER OF QUARTERS 5

        result:   BALANCE AT END OF 5 QUARTERS:  52.17



        example:  FIND THE PERIOD  (b on interest menu)
                  enter INTEREST RATE of 12
                  enter Q for quarterly compounding
                  enter BEGINNING BALANCE of 45
                  enter ENDING BALANCE of 52.17

        result:   BALANCE AT END OF 5.001 QUARTERS:  52.17


        example:  FIND THE INTEREST RATE (c on interest menu)
                  enter Q for quarterly compounding
                  enter BEGINNING BALANCE of 45
                  enter ENDING BALANCE of 52.17
                  enter NUMBER OF QUARTERS 5

        result:   INTEREST RATE : 12.004



        example:  FIND THE BEGINNING BALANCE (d on interest menu)
                  enter INTEREST RATE of 12
                  enter Q for quarterly compounding
                  enter ENDING BALANCE of 52.17
                  enter NUMBER OF QUARTERS 5

        result:   BEGINNING BALANCE:  45.00

        example:  COMPARE INTEREST RATES (e on interest menu)
                  enter INTEREST RATE of 12

        result:   the effect of different compounding is shown;
                  for example, daily compounding with a divisor of 360
                  would yield 12.935%, whereas semi-annual compounding
                  would yield only 12.360%


      NOTE: Discrepancies in values are due to rounding of cents
      values.  The actual ending balance would be between two dollar
      and cent values.


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  17
                           ADJUSTABLE RATE LOANS

     ADJUSTABLE RATE LOANS: To calculate the new loan payments when
     your rate is adjusted, you will need to know three pieces of
     information:

                 a. the new rate (the bank will tell you this)
                 b. the principal balance that remains on the loan
                 c. the REMAINING term of the loan

     For example.  if you have a 25 year ARM with a 50000 principal
     and interest rate of 14%, your monthly payment would be $601.89.
     Now, if the rate were to change to 13% AFTER FIVE YEARS OF
     PAYMENTS, then you would have:

                  a. new rate: 13%
                  b. principal balance remaining: 48400.50
                  c. remaining term: 20 years

     If you now run section a, d, or e of the program to see the
     monthly payments or amortization schedule, you would have new
     payments of 567.05.

     To use the mortgage record storage section of the program for 
     an adjustable rate loan, you must make a new file each time 
     the loan rate is adjusted.

     IN SUMMARY, to calculate any information about a loan with an
     adjusted rate, you treat the loan as a NEW loan with a new rate.
     The term is the REMAINING term of the old loan, and the principal
     is the REMAINNG principal of the old loan.

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  18

                                ERROR MESSAGES

        If an error message occurs while you run the program, check first
        to see that you have the correct DISK in the computer, that the
        PROGRAM disk has not been altered in any way, that there is NO
        WRITE PROTECT TAB on the program disk, and that if you are getting
        a file, that you are using the filename that is ON THE DISK. 


     4  OUT OF DATA   -- Your data file may have been damaged.
     7  OUT OF MEMORY -- You need additional memory in your computer.
     24 DEVICE TIMEOUT - Check printer: online ? all cables connected?
     25 DEVICE FAULT  -- Some input/output device was not ready.
     27 OUT OF PAPER  -- Check paper in your printer; check if it's ON.
     53 FILE NOT FOUND - Insert disk with this file; check the filename.
     57 DEVICE I/O ERR - Check all inputs/outputs. Formatted disk in ?
     61 DISK FULL     -- Use another formatted disk.
     62 INPUT PAST END - Your data file may have been damaged.
     64 BAD FILENAME  -- Use correct length and characters in filenames.
     67 DIRECTORY FULL - 255 files maximum in a directory.
     68 DEVICE UNAVAILABLE - Some device is not on line.
     70 DISK WRITE PROTECTED - Do not use write protected disks.
     71 DISK NOT READY - Put the disk in the drive and shut drive door.
     72 DISK MEDIA ERROR - Use another disk; defect on this disk or drive.
     75 PATH ERROR     -- Do not use pathnames with GRADE PLUS.
     76 (see 75)          This is to prevent you from misplacing files.

     For information on other errors, consult any DOS manual or contact the
                                  the author.

------------------------------------------------------------------------------ 
 19

     Please -- the author worked long and hard writing and having this
      program field tested.  He is a real person with a family and is
        asking for you to be fair.  Your registration will be truly
            appreciated.  PLEASE USE the order/registration form 
                to register and to obtain updated versions.
                       

                      Thank you from the author,
         WILLIAM E. PEACE P.O. BOX 627 SOUTH DENNIS, MA 02660
           Your comments and suggestions are more than welcome.


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 20

        ABOUT THE ~ FILES

        The ~ files are used to contain information necessary to the 
        functioning of the programs. NEVER COPY, ALTER, or REMOVE THESE 
        FILES FROM ANY DISK or the program may not function AT ALL! and 
        your data may be harmed.

