I wrote this app as I need a way to track a loan accurately. It was quite a learning experience as typical variables like integers and doubles are not accurate enough for financial accounting. Thankfully, Apple provides some fantastic tools for doing essential and highly accurate financial calculations.
The instructions are simple:
• Provide the amount you want to track
• Provide the annual interest rate
• Provide the number of months you wish to track payments.
The app will take care of the math, you add payments or monthly interest accrual, and the app will calculate the result and place them in the ledger.
The Amortization Schedule will show the declining principal and interest payments for the numbers months you want to track.
I hope you find it useful.
Blessings,
—Mark