Of course, there is a multitude of programs available for loan amortization and investment annuity tables. At first glance, you might think that this software is just like the others but you will soon realize that ANNUI-T is unique.

Briefly, the major ANNUI-T features are a vast choice of calculation methods (American AND Canadian methods), an exceptional flexibility (especially with regard to all the modification options) and a user friendly approach. ANNUI-T is even bilingual, which means that you can switch from English to French and vice versa.

In the schedule produced by ANNUI-T, you can also have:

Annual results (interest, payment and principal) based on the year-end or any other desired date;

Sum of the results (interest, payment and principal) for an interval of time.

Calculation of the implicit rates for an interval of time. Therefore, when the interest rate changes, this function permits you to calculate the combined rate.

* New * Function to add and manage notes in a schedule. For more information, please see page 29 of the user manual (available on this website).

* New * Function that allows you to add links to existing documents (pdf, Excel, etc). For more information, please see page 31 of the user manual.

ANNUI-T also includes modules for:

The present value (N.P.V.) and the internal rate of return (I.R.R.), ideal to ananlyze investment projects.

Mortgage penalty calculation based on the interest rate differential.

Retirement planning (periodical contributions followed by periodical withdrawals).

What-if tool to obtain a quick evaluation of impacts when any given basic information is changed (initial amount, number of periods, interest rate, etc).

Finally, even if the program is very user friendly, ANNUI-T includes a help function and a manual (PDF format) containing many examples.

You can even register payments at the end of the month.

Concerning the choices for interest compounding frequency, they are the same as for the payment frequency except that you can also select a daily basis.

You can enter an interest compounding frequency that differs from the payment frequency, for example, in the case of a Canadian mortgage.

For fixed payment scenarios, ANNUI-T even allows special series payments:

Fixed amount series. For example, in the case of a loan with monthly payment, the lender and the debtor could decide that every year, the payment amount for the first three months would be $200 and for every other month, the payment would be the regular amount (calculated by ANNUI-T based on the interest rate and the number of periods to amortized the loan).

Free style payment series. With this option, a window is displayed to let you enter, for any chosen period, a special payment amount. You can also indicate non payments. Even for this kind of scenario, ANNUI-T is able to calculate a regular payment applicable to periods with no special payment registered.

The flexibility offered by ANNUI-T is simply exceptional. In fact, you can always modify the payment and/or the interest rate for one or more periods.

ANNUI-T also allows you to adjust the amount of interest or the balance at any given date in order to make the results correspond with those of a financial institution if needed.

This function is used to process term deposits, trust funds, loans repayable by a single payment, etc. It allows you to establish the balance, the accumulated interest and the accrued interest at any given date.

ANNUI-T even allows you to enter a supplementary calculation date. This option is useful when you want to know the accumulated interest, the accrued interest and the balance at a given date.

The future value tool allows you to calculate the missing variable (initial amount, interest rate, number of periods or future value). In the schedule, you can also register interest rate modifications and fund advances or withdrawals.

This function allows you to calculate the net present value of the interest rate differential, commonly called the "I.R.D." .

Most of the time, this procedure is used to establish the amount of penalty to be paid when a borrower refinances or prepays the balance of his mortgage before the end of the contract. This happens when the current interest rate is lower than the interest rate of the contract.

Finally, for interest calculation, ANNUI-T offers 2 methods: "Theoretical" and "Real". With the "Theoretical" option, the interest and the balance are simply estimated by formulas. With the "Real" option, the interest and the balance are established by generating a real schedule. Nevertheless, most of the financial institutions use the theoretical interest calculation method to establish the amount of the penalty.

This module allows you to calculate and visualize the schedule of a retirement plan, i.e.; scenarios in which a person makes periodical deposits ("contributions") until his retirement and then withdraws funds during a certain number of years.

Let us take an example. A man estimates that he will have to work another 30 years before his retirement. Ideally, he would like to withdraw $2,000.00 monthly during 20 years after his retirement.

He actually has $25,000.00 in an R.R.S.P. and he is aware that it is always more advantageous to make periodical deposits. He now wants to start depositing an amount in this fund every month.

He wonders what will be the necessary amount of monthly contribution in order to realize his objective if the annual interest rate, compounded monthly, is 4% during the contributions period and 5% during the withdrawals period. Finally, he is not planning to pay the income taxes on the R.R.S.P. withdrawals with these funds.

Answer: Based on these hypotheses, the required monthly contribution will be $316.23, which would provide a retirement capital of $303,050.63.

With ANNUI-T, it is so easy to answer these kinds of questions!

The data entry window of this retirement planning module is similar to the one used for annuities except that there are 2 sections: the contributions section and the withdrawals section.

The maximum duration is 50 years of contributions and 50 years of withdrawals.

The choices for payment and compounding frequencies are the same as for annuities.

In the data entry windows of this module, the program allows you to calculate:

Moreover, you can enter 2 income tax rate, one for the contributions period and one for the withdrawals period. This is used when you plan to pay the income tax on the interest income with these funds

Once the program has calculated the unknowns you can visualize the schedule by selecting "Schedule and special events". In this screen, other possibilities are offered.

For each period, you can modify, as you wish, the contribution amount or the withdrawal amount or the interest rate. The modifications are normally made to register special events that could occur in the future (retirement allowance, sale of an asset, etc.) or to analyze the impact of different changes.

If a modification is effective for more than one period, you can use the functions "Copy" and "Paste".

Finally, when modifications have been made to the schedule, ANNUI-T offers 4 choices of calculation:

Calculation of the new regular contribution and the new regular withdrawal in order to preserve the same retirement capital and the same duration of withdrawals.

Calculation of the new retirement capital and the new regular withdrawal.

Calculation of the new regular contribution only. In this case, the retirement capital remains the same. However, if modifications were made in the withdrawals section, the duration of the withdrawals may be shortened or end with a "balloon payment".

Calculation of the schedule without modifying the regular contribution amount nor the regular withdrawal amount.

This module is ideal for investment projects analysis.

You can register up to 1305 cash flows on all kinds of frequencies (annual, quarterly, monthly, etc).

For each cash flow line, you can enter a brief description in order to document the analysis. You can modify the discount rate in the cash-flow schedule, for one or more periods. In other words, it is possible to use different discount rates, based on probabilities or other factors, while calculating a net present value.

Since it frequently happens that the cash flow amount remains the same during a certain period of time, ANNUI-T even allows you to copy a line of cash flow.

This applies for annuities (loans, leases and investments) but also for future values. The "What-if" tool is very simple and useful to obtain a quick evaluation of impacts when any given basic information is changed (initial amount, number of periods, interest rate, etc).

First, you have to enter the basic information of the initial scenario (the one to be compared to) except the unknown value. Next, you have to indicate what element you want to vary and the variation. Then, the program calculates the unknown value and generates the data

Let us take an example. A $100,000 mortgage loan is amortized over 25 years at 6% and is repayable by monthly payments. The term is 5 years. In this case, we want to know the impacts of a .5% rate variation. ANNUI-T then displays the initial scenario and 10 others, one for each rate variation (up to 11% in this example). The program gives you the results and the differences compared to the initial scenario. These results are given for the term and the complete duration of the mortgage loan.

Note that there is also an icon to display these results with all kinds of graphs.

Now, if you would like to see other important specifications of ANNUI-T (especially if you are an accountant), please click on the following link:  Other important specifications of ANNUI-T