Date Written: 04/19/2013
Industry: Personal
GUI: Since this application was for personal use, I didn’t feel the need to build a GUI.
Sample Raw Data Files: Since the raw data files contain my personal financial information, I’ve not included a raw data file.
Sample Output: Since the output contains my personal financial information, I’ve not included a sample of the output.
Application Description:
This application breaks each mortgage payment into three categories: normal Payment, additional principal, and interest. From that information the principal reduction can be calculated for each mortgage payment. Each of these categories are averaged on a yearly basis to track yearly trends. I have also created a tool that will determine the reduction of interested charged as a function of additional principal payment. This tools helps me set goals as to how much extra principal in a given year is necessary, to reduce the interest payment by a target value. Furthermore, this tool will project the payoff date as the extra principle amount is varied.
I do understand that these tools are available online or via Quicken, but this gave me the opportunity to customize it to my liking as well as sharpen my data analytic skills.