loan druid

[Jim Stead]

On Sunday 30 March 2003 01:51 pm, Neil Carlson wrote:
> ser at lists.gnucash.org
>
>
> Date:
> Today 01:51:28 pm
>
> On Sun, 2003-03-23 at 20:43, Jim Stead wrote:
> > On Saturday 22 March 2003 08:20 pm, Dale Alspach wrote:
> > > I recently refinanced my  mortgage so I thought I would use the
> > > loan druid (Gnucash 1.8.2 RH 7.2) to schedule the payments. I
> > > found it quite confusing and it seems to be giving me an
> > > incorrect set of splits between interest and principal.
> > >
> > > Suppose I take out a loan for $100,000 at 5% compounded monthly
> > > for 180 months. The loan
> > > begins on April 1 and the first payment is due May 1 with 15
> > > days grace period. I also pay $100 in hazard insurance and $120
> > > property taxes into an escrow account. Accoring to the gnucash
> > > financial calculator the monthly payment should be $790.79 for
> > > principal and interest.
> > >
> > >
> > > Now I go to Review. I see 04/05/2003 payment 790.79, Principal
> > > 372.58, Interest 418.22 Taxes 120 Insurance 100.
> > > Why is this here? The start date for payments was 5/5/2003?
> > > If this were the first payment, the interest should be 416.67
> > > not 418.22.
> >
> > Boy, I just used the loan druid for several different loans, and
> > I don't recall it being that confusing.  I do remember that I had
> > to set the loan date one month earlier than what it seemed to be
>
> See bug #105225.  Needing to set the loan date one month earlier
> was a clue that something is broken with the druid.  The problem is
> an extra, bogus '0th' payment.  Your 'solution' gives the expected
> first payment, but all the interest/principle splits will be wrong.
>
> BTW, what is happening to this part of gnucash (SX-stuff)?  Judging
> from the bugzilla database there are several dozen bug reports for
> this component that are months old and still catagorized as 'NEW'.
> Has it been orphaned by the developer?

My splits are right.  At least they agree with the mortgage company.  
I forget which date I juggled, I think it was the one to start 
payments.  I do recall playing with some of the values before they 
came out right, but I didn't have to change the principal or 
interest.

Jim