Example 5 Scenario  

You wish to calculate interest on three different matters -

 

You then wish to merge the results to a Microsoft Word demand letter precedent that you have developed.

 

You will calculate interest at a Static Rate of interest (7.5% per annum) to 21 Sep. 2007.

 

Demonstrated Features

 

Points of Interest

 

Multimedia Presentation

 

Calculation Results

The results generated by the program are shown below.

 

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Calculation Result

 

 

 

 

INTEREST CALCULATION SUMMARY

as at 21/09/2007

 

REFERENCE        AMOUNT        FROM        BALANCE        PRINCIPAL        INTEREST

ABC v. Jones        £10,000.00        07/07/2004        £12,407.22        £10,000.00        £2,407.22

ABC v. Smith        £5,678.90        10/10/2005        £6,509.73        £5,678.90        £830.83

ABC v. Hayes        £12,346.84        03/03/2006        £13,787.87        £12,346.84        £1,441.03

 

Please note. Every case uses the same Calculation Date, Interest, Compounding, Moratorium and other settings.

 

DETAILED MAIL-MERGE INFORMATION

 

Full details of each calculation have been stored to mail-merge files. The list of available merge-fields is given below.

 

Microsoft Word Users

 

 

 

When using the Mail Merge tool, select the following datasource:

C:\Documents And Settings\Trevor Lewis\Application Data\Lawtech\Lta\C3p\Merge\C3DATA.DOC.

 

Please note that Microsoft Word seems to be getting less, rather than more, capable at mail merge with each successive version. It is recommended that you use Wordperfect if possible for mail merge operations.

 

 

 

 

 

Sample Word templates can be found at c:\data\c3p\iexe_\eng\australia\hlp\merge samples\SimpleAmount.dot (simple amounts) and c:\data\c3p\iexe_\eng\australia\hlp\merge samples\Transactions.dot (transactions cases). Please note that these are designed to access the factory-default mail merge data source files. If you have changed the file name you will have to change the template datasource name to match.

 

Wordperfect Users

 

 

 

When using the Mail Merge tool, select the following datasource:

C:\Documents And Settings\Trevor Lewis\Application Data\Lawtech\Lta\C3p\Merge\C3DATA.DB

 

Note: this file will only have been created if Wordperfect's database engine has been installed. To see if it is installed, click Help|Wordperfect Database on Calin's main form.

 

 

 

 

 

Sample Wordperfect templates can be found at c:\data\c3p\iexe_\eng\australia\hlp\merge samples\SimpleAmount.wpd (simple amounts) and c:\data\c3p\iexe_\eng\australia\hlp\merge samples\Transactions.wpd (transactions cases). Please note that these are designed to access the factory-default mail merge data source files. If you have changed the file name you will have to change the template datasource name to match.

 

 

 

 

AVAILABLE MERGE FIELDS

 

FIELD        EXAMPLE        SHORT DESCRIPTION

af        "22/09/2007"        Accumulation Start Date

apd        "£2.54"        Interest Accumulation per day

apd_w        "two pounds and f..."        Interest Accumulation per day (words+number)

apdw        "two pounds and f..."        Interest Accumulation per day (Words)

applyorder        ""        CR & Dr Application Order

cend        "21/09/2007"        Calculation End Date

clb        "£13,787.87"        Closing Balance

clbwords        "thirteen thousand..."        Closing Balance (in words)

cli        "£1,441.03"        Closing Interest

cliwords        "one thousand four..."        Closing Interest (in words)

clnp        "£0.00"        Closing Non-Principal

clnpwords        "zero pounds and ..."        Closing Non-Principal (in words)

clp        "£12,346.84"        Closing Principal

clpwords        "twelve thousand t..."        Closing Principal (in words)

dpy        "365"        Days per Year

dyrs        "1.556"        Years in Interest Period

end        "21/09/2007"        Interest End Date

idebited        "£0.00"        Credits Paid

ipaid        "£0.00"        Debits paid

MsMerge        "C:\Documents And ..."        MS Word merge file

RatesUsed        "Interest rate 7.5..."        Interest Rates Used

Reference        "ABC v. Hayes"        User Reference/Case Name

repayc        "0"        Number of Repayments

repayments        "  Total  £0.00"        Repayment Schedule

settings        ""        Program Settings

sp        "£12,346.84"        Starting Principal

start        "03/03/2006"        Calculation Start Date

STD_AUTO        "(a) On 03/03/2006..."        Standard Text Report (with preferred numbering)

tdays        "568 days"        Days in Interest Period (numeric)

ti        "£1,441.03"        Total Interest

ti_w        "one thousand four..."        Total Interest (number and words)

tiw        "one thousand four..."        Total Interest (in words)

TXROSTERB        ""        Transaction Roster (no numbering)

warnings        ""        Warnings

WpMerge        "C:\Documents And ..."        Wordperfect merge file

XSTD        "DATE       DESCRI..."        Standard Table Report

 

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Calculation Notes

 

The following information is provided to give you a complete understanding of the calculation, so even the finest details are available if ever needed.

 

1. The main calculation options (such as days per year, credit Application order and rounding) have been taken from the settings on the main form. These options can be changed for individual calculations in Settings|Options, or for all new cases in Settings|Setup.

 

2. The debit interest rates have been taken from the settings on the main form.

 

3. The credit interest rates (if required) have been taken from the settings on the main form.

 

4. Decimal Rounding. When converting from an annual rate of interest to a daily rate of interest, and except if overridden in an interest rates file, the program has rounded-up to 8 decimal places, eg 8.12512324924555 is rounded to 8.12512325%. You can change the setting in Settings|Options.

 

5. Calendar Year. You are using the "Calendar Year" method for converting the annual interest rate to the daily interest rate. In many cases this is the most accurate setting but you should be aware that it adds complexity to the calculation report because it requires additional interest calculations before and after each leap year. If you require a simpler report and it is appropriate to do so then choose a different setting. The setting is either embedded in the Options section of the selected interest rate file or else it is set in Settings|Options on the main form. In either case you can change or override the setting for a particular calculation in Settings|Options. Please note that such settings only apply to the current calculation. You can change the default value that affects all new calculations in Settings|Setup. The default value cannot however automatically override any setting in the Options part of an interest rate file - you still have to override on an individual basis as explained above.