Planit:Riba Free Mortgage

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There is more than one way to learn about PlanPlus Planit. Check out our other Training options, from structured tracks around planning types, to self-serve, mix-and-match topics.



In this Video you will Learn...
How do I calculate information about my Islamic client's riba-free mortgage?
• Use Present Future Value Calculator
• Data entry example
• Read the schedule for balance

Keep on Track! Continue training on...
Calculators Islamic Planning

Other Related Topics
Present Future Value Calculator Loan Amortization Calculator Shariah Compliance
Introduction to the Assets and Liabilities Screen (Canada) Introduction to the Assets and Liabilities Screen (Malaysia)


The material in this video may differ somewhat from what you see on your site due to difference in version, jurisdiction, corporate content or access level. Regardless of these differences most of the core functions are consistent across all sites, so you'll be able to benefit by and large from what you learn in this video.


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This calculator allows you to identify the missing variable in a calculation of the present and/or future value of a single deposit or a series of periodic deposits. To identify a missing variable, merely click on the "Calculate" button on the corresponding line that you wish to calculate and that value will be calculated for you.

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Annuity Type: Simple Annuity assumes payment at the beginning of the period, an Annuity Due is at the end of the period. For a Single Deposit, you'll be able to identify a single deposit made today.

Periodic Payment: Is the amount of money that will be saved or received each period. This field is excluded when illustrating a Single Deposit.

Frequency: Is how often the periodic payments are made, monthly, quarterly, semi-annually or annually. The compounding period is the same as the payment frequency. This field is excluded when illustrating a Single Deposit.

Number of Payments: Is the number of months or years that payments will be received. If you are dealing with a monthly payment for 5 years, that would be 60 payments. When selecting a Single Deposit, this field identifies the period of time that this deposit is to be invested for (in years).

% Interest/Year: Is the annual interest factor.

Index Payments/Year: You can index your savings to inflation; merely identify the inflation rate you would like to use. This will cause the calculator to increase the payment each period. This field is excluded when illustrating a Single Deposit.

Present Values: This is the amount of money you would have to have in the bank today to equal the future value at the end of your savings period, given all of the variables you have entered.

Future Value: This is the amount of money you will have at the end of your savings period given all of the variables you have entered. The Schedule button will display your results on the screen.