[GNC-dev] Interest

[Frank H. Ellenberger]

Hello Michael,

Am 11.12.18 um 16:32 schrieb 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.

If one of our translators comes up with such a question, there might -
not must - something be suboptimal with our MsgIds, their documentation
or our user doocumentation.

> 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.

I would go further than Hamid. If you see the deposit facility rate at
https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html

it is time to drop the restriction and allow zero and negative interest
rates.

> 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

~Frank