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Features of Legal Math

In use since 1989 throughout the USA

In addition to being able to Calculate Interest on Past Due Child Support, Legal Math will also:
Calculate interest on any other flow of irregular payments or charges (garnishments, collections, promissory notes in default)
Calculate the Present Value of a Pension Plan or any other future money payment situation (Pension Plans, Right to future monthly payments, Right to a future lump sum)
Calculate loan payment amounts and prepare amortization schedules
Calculate the present value of any regular periodic flow of dollars (monthly, bi-monthly, weekly, quarterly, yearly)
Calculate the present value of any increasing regular periodic flow of dollars (monthly, bi-monthly, weekly, quarterly, yearly)
 

 

Calculate the present value of a lump sum to be received in the future 
Calculate the future value of any regular periodic investment (monthly, bi-monthly, weekly, quarterly, yearly, daily)
Calculate the future value of a lump sum invested over time.
Calculate the monthly payment available over time from a known lump sum
Easily do calendar math:  add or subtract days from a know date and calculate the number of days between dates.

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Who needs it?
This program is for anyone who ever sat down with a calculator, a calendar, a yellow pad, a cup of coffee and a bottle of aspirin in an attempt to calculate daily interest on any debt with frequently changing balances and payments.
Can be used by lawyers, accountants, lumber yards, vehicle dealers, private lenders, employer/employee loans .... the list is endless.  
See Details below.
Try using the other brand!
It's possible that the world's leading spread sheet program has the ability to calculate daily interest on changing balances with irregular payments and changing interest rates, but try doing it twice in a row with even slightly different facts.  And try figuring out how to do it even once without wasting days of your time when all you want is to get that "simple little calculation" over and done and out the door. 

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Details for Interest Calculating feature
(Note: This interest calculating feature can easily be used for calculating interest on any series of irregular payment transactions, including calculating interest on past due child support.)
Specify Simple or Compound Interest (compound monthly or annually)
Apply payments (1) first to interest, then to past due and current principal; (2) first to current month obligation, then to interest, then to past due principal; or (3) first to past due and current month principal, then to interest.
Apply a particular payment in some order different that the order in which the other payments are applied. (can be used for special treatment of child support "tax intercept" transactions or for any specially designated payment) 
 
 
Change the interest rate in mid-stream of a series of transactions.
Add a short text description to any or all transactions.
Easy entry for monthly, twice per month, every other week, weekly, first and fifteenth transactions
Optional "delay" for calculating interest on payments received within 30 or 31 days of their due dates. (for child support interest calculations in Illinois and Texas and certain other states)
Optional setting to calculate monthly rather than daily interest, with payment considered as timely if paid during the month it falls due.
 

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Copyright © 2004, Custom Legal Software