Hello, I have a problem with setting up a mortgage. By the time I've added the details and reach the 'Loan Review' page, the results are way off. Here are my values:
Amount: 172,000 Interest Rate: 4.590% Type: Fixed Rate Start date: 01/01/17 Length: 30 years The PMT for this is calculated by gnucash as: pmt( 0.04590 / 12.00 : 360.00 : 172,000.00 : 0 : 0 ) Loan payments are every two weeks on a Friday, starting 01/01/17. My bank calculates these bi-weekly repayments at ~$400, but gnucash shows the payments as $880. I could understand these being off a few dollars depending on how the interested is calculated (it's calculated daily here in NZ), but out by more than twice as much? It gets even stranger when you look at the review page: <http://gnucash.1415818.n4.nabble.com/file/n4692580/Screenshot_from_2017-07-09_21-35-00.png> It's as though the 30 year term is ignored and instead the figures are applied to a ~13 year term. This would actually make sense given the stated repayments of ~$880, but the mortgage in the review actually does carry on beyond 13 years although it actually stops at 29 years (15/12/45) with an interest payment of $3.36 for the 16 years after the loan interest appears to actually end. Am I driving this wrong, or is this a bug? This happens on the latest version in the Ubuntu repositories (2.6.12) and the latest Window version (2.6.17). I have searched the mailing lists for this problem but haven't found a specific mention of it, although have found a long history of confusion over the scheduled transaction tool. Thanks, ITWarrior -- View this message in context: http://gnucash.1415818.n4.nabble.com/Mortgage-Loan-Scheduled-Transaction-Way-Off-tp4692580.html Sent from the GnuCash - User mailing list archive at Nabble.com. _______________________________________________ gnucash-user mailing list [email protected] https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
