The Uniform Consumer Credit Code (UCCC)provides for graduated interest
rates on precomputed loans along the following structure (the rates
and amounts not exactly as per UCCC but I think you get the general
idea)and the monthly finance charge may not exceed the greater of the
following:

3% per month on that part of the amount financed up to $1,680.00
1.5% per month on that part of the amount financed from $1,680.01 to $2,800.00
1.0$ per month on that part of the amount financed from $2,800.01 to $8,400.00 OR
24% per year on unpaid balance of principal according to United States rule.
Maximum APR is 24% for loans above $8,400.00.

I am trying to develop a chart for those loans between $1,680 to $8400
and am stumped on developing a formula.  My chart should show loan
principal, term (months), monthly payment, and interest rate.  The
chart should make it easier to see the "break points" and what loan
amounts, terms, and interest rates are at a glance.  I saw something
similar developed by the Indiana State Dept. of Financial Institutions
but could not determined how certain numbers used in their formulas
were developed.

I would like to see a formula for each of the break points and chart. 
I could then develop my own format of a data table in Excel.

Thank you very much.

George

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Request for Question Clarification by tox-ga on 28 Jun 2006 14:23 PDT

Hi there,

I can certainly help you with the formulas and such but just to make
sure I am understanding your needs completely, if you could post a few
examples with varying amounts that demonstrate each of the interest
rate structure, that would be great.

Cheers,
Tox-ga