Hi, The issue is the 360 payments. If you're paying every 2 weeks for 30 years then there are more than 720 payments. Fix that and the numbers should be correct. I suspect the assistant only handles monthly repayments. -derek -- Sent from my Android device with K-9 Mail. Please excuse my brevity or typos.
On July 9, 2017 5:33:59 AM EDT, ITWarrior <[email protected]> wrote: >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. _______________________________________________ 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.
