On 11/3/2024 5:20 PM, Jason Seegers wrote:
Hi,
Not sure what I am doing wrong here but when I use the loan repayment
calculator as per the screenshots below, the transactions created don’t match
what I am shown and I am stumped as to why.
Any ideas to get this to actually agree?
How far off?
If a small discrepancy, the "why" is very simple. There is NOT one
correct way to do the calculation and so no way to expect the result
from the calculation the loan provider used will match the result from
the calculation gnucash uses. There are a number of ASSUMPTIONS being
made (one of the largest, how is the end of the loan handled if, as
usual, not going to come out even).
You simply can't expect exact agreement.
Now as to the two amortizations shown in the screen shots, more useful
would be the # of each "rent" (periodic payment). We have no way of
knowing if those absolute dates correspond. In other words, we DON'T
know if 3/21 is the nth payment on each. Since you are presumably
dealing with loan start in the past, do you have that past lined up?
Michael D Novack
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