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Loan Payment Plan Feauture Added To Iqsolar App - Business - Nairaland

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Loan Payment Plan Feauture Added To Iqsolar App by Charpell(m): 5:03pm On Nov 20, 2016
Hello everyone, 3 months ago I developed IQSolar app for solar energy users.
Here is the thread to read about it https://www.nairaland.com/3229993/solar-app-been-launched-google

Today I decided to add the Loan payment feature for both solar and non-solar users to make loan calculation for future decisions.
We all know the major barrier of purchasing solar system is the initial cost. Since the Government have failed to provide incentive for solar energy users, like how it’s been done in other countries, we are left in the hands of private company ready to finance. Thanks to new companies springing up that allows solar payment in installments.

This new plan spread your total payment over a 6-12 months period, allowing you to afford the initial cost.
With IQSolar, you can determine the monthly payment plan over the course of 2 years and the interest you will pay.
You can use the same feature for not only solar installment but also for other huge access acquiring things like house, cars, land etc

To see how much interest you should expect to pay over the life of your fixed-rate loan, use the calculator below.

Example:
Let’s say you want to buy the complete set of 1kVa solar energy system valued at N250,000 at 10% rate to repay over 2 years, with a down payment of 30%.

To calculate:
Enter “250,000” as the Total Price, “10” as the Rate, and “24” as the Term in months, “30” as Down Payment.

From the screenshot below, it requires you to pay N8,075 monthly and it would cost you approximately N19,000 to use the Loan Plan

Click here to download IQSolar app
https://play.google.com/store/apps/details?id=appinventor.ai_chappelle09.Solarapp&hl=en
Size: 2mb

Re: Loan Payment Plan Feauture Added To Iqsolar App by OracleHex(m): 1:54am On Nov 22, 2016
Thanks for the feature but when are you going to add the price feature?
Re: Loan Payment Plan Feauture Added To Iqsolar App by Charpell(m): 5:50pm On Nov 22, 2016
The price feature may not be included because price change on a daily routine and that will require me to update the app every day
Re: Loan Payment Plan Feauture Added To Iqsolar App by Charpell(m): 4:07am On Nov 28, 2016
Re: Loan Payment Plan Feauture Added To Iqsolar App by Charpell(m): 2:05am On Jan 02, 2017
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Re: Loan Payment Plan Feauture Added To Iqsolar App by Charpell(m): 7:46am On Jan 03, 2017
TASK 1
John has decided he wants to use Solar energy.
But because of the cost associated with it,
he wants to start with a Backup system
before divulging into Stand Alone System.
John is also working on the limited budget
of to 2kva system at most.

Here are the list of his appliance
10 Energy Saving Bulb (20w)
3 Standing Fan (50w)
1 Celling Fan (120w)
10 Phones (10w)
2 LCD TV (150w)
1 Decoder (30w)
1 Microwave (600w)
1 Air Condition (1000w)
1 Laptop (75w)

Based on his budget, John wants to know
His Energy consumption
Inverter size
Number of batteries

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