I am looking for a program that will allow the user to key in information about their debts.
Users Name
Name of Debt
Interest Rate
Total Balance
Minimum payment required by creditor
Amount of money they could pay extra on their debts each month.
I want the program to use that info to calculate how long it will take them to pay off the debt. I'd like a pie chart of the debt and an amortization table showing them how their debts will go down each month.
Windows platfom...if it can work on Mac too...great. I don't care how it's done but it must be downloadable to end users computer and not reliant on any program being on the computer it's downloaded to.
## Deliverables
The method of paying off debt that this program should use is putting all extra money on the debt with the smallest BALANCE.
So... Minimum payment + extra = new payment on smallest debt.
Once that debt is paid off all the money used to pay the previous debt should be put on the next smallest debt....rolling the snowball down the hill.
I envision a result page that gives them a colorful pie chart representing their individual debts...shows the debt ranked from smallest to largest with payoff month/year for each debt.
There should be a button to go back and change the EXTRA amount they can pay each month so they can see the difference if they were to have more or less extra each month
This page should be printable. Perhaps it could say at the top: Debt-Elimination Plan For NAME
I'd also like an option for them to see an amortization table for the total debt load. If it's not a big deal to do amortization tables for each debt, that would be a nice option but my primary concern is to see the total debt go down month by month for however long it takes.
I think I have it all!
Feel free to ask any questions.
Thanks!