This section explains the functions and features available on the Calculations tab.
The Payment Code drop-down list only allows values of Interest Included or Single Payment at Maturity when Loan Category is Non-Real Estate. If the loan category is real estate, the only valid value is Interest Included. All other options are unavailable with the following hover help: Interest Included is the only valid option on Military Loans.
The MAPR section appears below the Calculations section that appears once the loan has been calculated. It includes the Amount Financed, Finance Charge, and MAPR values that were used to calculate the MAPR and returned by Carleton.
If the MAPR is over 36%, a warning message appears at the top of the screen that states: The Military APR cannot exceed 36%. Please make adjustments before proceeding with the loan. The user cannot complete the Terms node until the MAPR is 36% or less.