Mortgage Druid is not giving me expected results
Josh Sled
jsled at asynchronous.org
Mon Mar 8 10:02:37 CST 2004
On Mon, 2004-03-08 at 10:44, Laurent Duperval wrote:
> Initial: 130,000
> Interest: 4% for two years
> Bi-weekly payment
>
> The value calculated by GC is:
>
> pmt( 0.04000 / 12 : 227 : 130000.00 : 0 : 0 )
>
> which give 817.33. It should be around $400, I think.
Ah. While you have 18 years _left_ to pay, the payment [pmt(...)] is
computed based on the total length of the loan. You have two options:
1/ Change '227' to the correct length of the entire loan.
2/ Recompute the present value, given 18 years remaining.
...jsled
--
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