Mortgage Druid is not giving me expected results

[Derek Atkins]

Laurent Duperval <lduperval at videotron.ca> writes:

> Sorry for reviving this thread so late... I received a statement from
> the bank and it looks like the values I entered were correct. The bank
> says that amortizing is on 227 months. The balance is 130,000, rate is
> 4% and payment is every two weeks. According to the schedule they sent
> me, I'm supposed to pay 407.55 per period. GC says 817.33 which is
> about twice as much as it should be. I really don't know which part of
> the calculation is incorrect. Unless the bank made an error... Nah, I
> can't be that lucky. :-)

I suspect the druid is assuming monthly payments and creating the SXes
to match that assumption, even if it creates the payments to happen
every 2 weeks.

> L

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
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