[GNC-dev] Interest

[Michael or Penny Novack]

On 12/11/2018 7:05 AM, Hamidreza Jafari wrote:

>
> Enter the annual interest rate in percent. Accepts values from 0.001 - 100.
> The Mortgage Assistant does not support zero-interest loans.

> What's the situation?
>
> Hamid

Needed for more than just Islam BUT perhaps this belongs in the "user" 
discussion as maybe no programming involved.

You would need/use the "mortgage assistant" only for an amortizing loan 
WITH interest. Just because you might be thinking of a loan as for the 
same purpose as a mortgage (buying a house, etc.) does not make it one 
as the term is being used in gnucash.

Put your question on the other list as a "how do I do in gnucash" 
spelling out ALL of the conditions of this loan. I'm not a Muslim but do 
have an understanding of some of the forms of "no interest" loans and so 
understand that while no interest MAY be conditions of "profit sharing" 
if the property involved is sold before the loan paid off. Or in the 
condition of losses if not forbidden as "iron sheep" contracts << that's 
just to show you I do know something about traditional societies >>

Michael D Novack