On 2022-01-31 07:00, Michael or Penny Novack wrote: > > Speaking as somebody who has written software to produce mortgage > amortization tables, don't sweat it. It would be close to impossible for > you to exactly match what the bank has. The problem is that there are > simply too many places where assumptions being made, where rounding, how > to treat the odd amount at the end, etc. for example, that an exact > match cannot be expected.
It may not be as dire as that. I use a simple Excel workbook that I wrote, and it has matched every computation in my last four mortgages to the penny. I use ROUND(Balance*AnnualInterestRate/12, 2) to compute the interest. I don't deny that assumptions must be made, but perhaps consumer protection legislation in the US, a/k/a "Truth in Lending", has reduced the number of possibilities. With my latest mortgage I received a full amortization table, so I was able to verify my workbook immediately, without waiting for monthly statements. Unfortunately, while GnuCash could handle my original mortgage, it couldn't handle the refinanced mortgage, so every month I have to transfer figures from my Excel workbook. That's just a minor inconvenience, so I haven't felt motivated to spend time tweaking the scheduled transaction. -- Stan Brown Tehachapi, CA, USA https://BrownMath.com _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
