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My loan documents and/or document printing software only have room for one payment amount. How can I disclose a 0% interest loan?

April 26, 2017disclose DOCUMENT documents loan payment printing room Software

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My loan documents and/or document printing software only have room for one payment amount. How can I disclose a 0% interest loan?

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If you don’t have room on your loan agreements or document printing software for two payment amounts, you can solve the loan “backwards” with the 627B LeaseMaker to find the loan amount. First, calculate the payment from the loan amount using a 0% interest rate. Then, change modes (push the Mode key) so the calculator will find the price and loan amount. Push the Loan Rework key and keep the payment amount and other entries. The price and loan amount will be adjusted adjusted up or down by a few cents to make sure the finance charge is exactly zero. Using the above example, the loan would be disclosed as 36 payments of $138.89 each, and the loan amount would be adjusted to $5,000.04.