Monday, 17 December 2012

Debt Tracking and Amortization - App Review

Back with an iPad app review of a free one called DebtPayoffL that allows someone to set up different debts (e.g. car, university), each with it's own amount owing and interest rate.  It then shows all the debts in a table with a row for each debt and a progress graph and payoff date shown.  Touching each row gives you the detail payment schedule.  There are also some Loan calculators you can use to do "what-if" amortization calculations.  Lots of good features with this one. The free version allows you to track two debts and if you upgrade to the full version you can track as many as you need.

This app would be a good tool to help teach students about debt, loans and amortization calculations.  It looks like you could use it outside the classroom as well to track real debts.  I'll do a demo video of this one soon and look at more of the features.

James Whelan,

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