Daily Interest Monitor

This worksheet is a companion to the main program Loan Payoff Planner which was the result of several months of planning and designing that all started with an idea and a need. Designed to run on Excel 97, 2000 or higher, Daily Interest Monitor is a workbook designed for a singular specific purpose: Short-term loans.

A Continuous illustration worksheet provides for monitoring daily interest and activity on any loan up to a 3 year term. Businesses, lending institutions, and homeowners building a new home on an established line of credit might have the greatest use for this Excel workbook, just to calculate, monitor all activity and answer questions. Many businesses also have established lines of credit where funds might be accessed for short term needs.

The worksheets will enable an individual to constantly monitor their activity and/or interest costs. This application might even be useful in a construction project bidding situation where cash flow costs might well be a major part of the project cost, or a business that provides its own financing to its own customers. Any number of situations are possible where Daily Interest Monitor might be useful.

In designing the original Loan Payoff Planner program, I visited several lending institutions for guidance. At one in particular, a loan officer of one of the largest banks in the country, had recently spent several hours manually designing and calculating an illustration for a business customer who needed to know and track the costs of a loan on a daily basis. This worksheet will perform the same task in seconds.

In addition, its main feature is the Flexibility of providing for a regular amortized payback plan based on the number of days set up or an alternative irregular payback plan with provision for individual, irregular payments or additional withdrawals, and the ability to constantly and accurately monitor any scenario. Discounted pricing is available for purchase of Loan Payoff Planner with this program incorporated.