How to set up SX to a loan account?

[Derek Atkins]

Bug #106742

-derek

"Sergey Okhapkin" <sos at sokhapkin.dyndns.org> writes:

> The current debit/credit formulas in sheduled transactions editor work
> OK only if no extra payments are made to the account. With extra
> payments involved the calculations of interest and transfer to principal
> values are incorrect. The formulas created by loan druid are:
>
> Payment: pmt( rate / 12 : 360 : loan_amount : 0 : 0 )
> To Interest:    ipmt( rate / 12 : i : 360 : loan_amount : 0 : 0 )
> To Principal: ppmt( rate / 12 : i : 360 : loan_amount : 0 : 0 )
>
> Interest and principal formulas are incorrect, these amounts depend on
> loan_amount AND current account balance. The interest and principal
> should be calculated in a different way:
>
> To Interest = current_balance * rate / 12
> Principal = Payment - Interest.
>
> Where current_balance is the loan account balance before payment. I'd
> like to modify the formulas in scheduled transactions editor, but... How
> to specify current account balance there?
>
> Sergey Okhapkin
> Somerset, NJ
>
>
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>

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available