Entering formulas in scheduled transactions

[Derek Atkins]

Jon Lapham <lapham at extracta.com.br> writes:

> Derek Atkins wrote:
> > According to webster:
> > am.or.tize [high falutin' definition stuff snipped]
>  > to provide for the gradual extinguishment of (as a mortgage)
>  > usu. by contribution to a sinking fund at the time of each
>  > periodic interest payment
> 
> Derek, you mean to tell me that when you needed an authoritative
> definition for amortization, you thought of Webster before the GnuCash
> documentation?!  :)

typing "webster" into my prompt was faster than trying to remember the
docs URL and finding the definition.

> But seriously, is our definition okay?
>
> http://www.gnucash.org/docs/v1.8/C/gnucash-guide/loans_concepts1.html#loans_conceptsterms2
> 
> Amortization - the repayment plan which will insure that a loan is
> eventually paid off, typically utilizing equal valued monthly payments.

I think it's ok..  You may want to add something to the affect of
"These payments are usually split into principal and interest, where
the amount of principal per payment increases (and interest decreases)
as the amortization period elapses."

-derek

-- 
       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