For the 16-Month Plan, Months 13-16 are not displayed but figure into a percentage of 100%.
The following scenarios are provided as examples:
· 10 Month Payment Plan: If all payments are equal, enter 10.00 (100/10) in 10 of the 12 Month Percentage columns and then enter 10 in the Number of Months column.
· 12 Month Payment Plan: If all payments are equal, enter 8.34 (100/12) in 4 of the Month Percentage columns and 8.33 in the remaining 8 columns. Enter 12 in the Number of Months column.
· 16 Month Payment Plan: If all payments are equal, enter 6.25 (100/16) in each of the 12 Month Percentage columns and then enter 16 in the Number of Months column. Although not displayed, the system will use the value entered in Month Percentage 1-4 columns as the value for Month Percentage 13-16.
These plans are detailed in the table below:
|
For the 16-Month Plan, Months 13-16 are not displayed but figure into a percentage of 100%. |
Number of Months |
10-Month Plan |
12-Month Plan |
16-Month Plan |
Month Percentage 1 |
10.00 (100/10) |
8.34 (100/12) |
6.25 (100/16) |
Month Percentage 2 |
10.00 |
8.33 |
6.25 |
Month Percentage 3 |
10.00 |
8.33 |
6.25 |
Month Percentage 4 |
10.00 |
8.34 |
6.25 |
Month Percentage 5 |
10.00 |
8.33 |
6.25 |
Month Percentage 6 |
10.00 |
8.33 |
6.25 |
Month Percentage 7 |
10.00 |
8.34 |
6.25 |
Month Percentage 8 |
10.00 |
8.33 |
6.25 |
Month Percentage 9 |
10.00 |
8.33 |
6.25 |
Month Percentage 10 |
10.00 |
8.33 |
6.25 |
Month Percentage 11 |
|
8.34 |
6.25 |
Month Percentage 12 |
|
8.33 |
6.25 |
|
100% |
100% |
75% |