On 6/8/2021 9:22 AM, D. via gnucash-user wrote:
I'll just note that I have *never* in 15 years had a gnucash-generated loan
transaction that matched the actual bank transaction. I have *always* had to
adjust the amounts manually after the fact, because the bank will calculate
interest and principle amounts based on the exact day (and probably the hour,
minute, and second) they receive my payment, which I cannot know in advance.
David T.
Speaking as somebody who has written programs to produce amortization
tables. the reason for non-agreement with the bank (or whoever) isn't
likely just a matter of the rule they are using to compute interest. And
yes you COULD know that as will be specified in the loan document. But
what you will not know are the things like:
a) Number of significant digits used in various places in the computation.
b) The method used (present value, "trial and error", etc.)
c) How the end of the loan (final payment) will be treated. Normally
will NOT be coming out exactly.
d) The escrow payment amount is another complex calculation. The reason
the amount seems to jump around year to year is that the balance in the
escrow account has to remain above zero ALL THE TIME (not just net over
the entire year)
e) As long as the payment you send is received on time, that will not
affect anything. I have never seen a loan agreement where that would happen.
Michael D Novack
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