Loan calculator using 40 year term default

Hello,

I have updated our Jazzit Loan Calculator and LT debt working papers to the April 29, 2022 update.

The JZLAMORT - Loan Calculator is using a loan term of 40 years when the maturity date entered into the LT debt working paper is 5 years. This does not impact the loan calculations for interest and principal if we know and enter the ending balance. However, it shows a much greater total repaid and total interest to be paid than actual.

Is there a way to change the loan term from 40 years to actual maturity date in the loan calculator?

Thanks for your help,

Mary Beth

Hi Mary Beth.

A updated Loan Calculator will be included in the next Resource Centre update when it is made available.

If you have any other questions or concerns regarding this working paper, please contact the support team using the contact information provided at jazzitsupport.com.

Thank you,
David