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

-- 
http://www.asynchronous.org/ - `a=jsled; b=asynchronous.org; echo ${a}@${b}`
# A: Because it breaks the flow of normal conversation.
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