Prod Calculator Admin

<calculator>

  <vos>

    <common>

      <FormulaType value="3" />

      <AssumptionText type="cdata"><![CDATA[  <p><b><font size="+1"> Calculator Information</font></b></p>

        <p>

            The Lump Sum Calculator calculates the time saved to pay off the loan and 

            the amount of interest saved if a single additional lump sum repayment is made, 

            equal to the entered amount of additional lump sum repayment after the loan has 

            been in force for the entered number of years, in addition to continuing the regular repayments. 

            The calculation is done at the repayment frequency entered, in respect of the original loan parameters entered, 

            namely amount, annual interest rate and term in years.</p>

        <div class="ic-hrline">

        </div>

        <p><b><font size="+1">Calculator Assumptions</font></b></p>

        <strong>Length of Month</strong><br />

        <p>

            BankSA term home loans have 12 equal monthly repayments in one year.</p>

        <strong>Fortnightly and Weekly Payments</strong>

        <p>

            BankSA allows you to pay half your monthly repayment every fortnight, 

            or one quarter of your monthly repayment every week. If you elect to make 

            fortnightly or weekly loan repayments, this means that over a year you 

            would make one extra monthly repayment and your Loan Term would shorten.</p>

        <strong>Rounding of Amount of Each Repayment</strong>

        <p>

            In practice, repayments are rounded to at least the nearer cent. However the calculator

            uses the unrounded repayment to derive the amount of interest payable at points

            along the graph and in total over the full term of the loan. This assumption allows

            for a smooth graph and equal repayment amounts. Note that the final repayment after

            the increase in repayment amount will be a partial repayment as required to reduce

            the loan balance to zero.</p>

        <strong>Rounding of Time Saved</strong>

        <p>

            The time saved is presented as a number of years and months, for all available repayment frequency options, 

            namely monthly, fortnightly & weekly. This is rounded down to the next lower month and hence is slightly conservative.</p>

        <strong>Amount of Interest Saved</strong>

        <p>

            In contrast to the calculation of time saved, the calculation of the amount of interest 

            saved is not rounded and is shown to full accuracy including the number of cents. 

            This amount can only be approximated from the amount of time saved.</p>

        ]]></AssumptionText>

    </common>

    <lumpSum>

      <LoanTerm type="num" max="30" />

    </lumpSum>

  </vos>

  <components>

    <LoanType type="list" value="Variable,Fixed" selectedvalue="variable" />

  </components>

</calculator>