Newbie migration issues

[Josh Sled]

On Sat, 2005-01-29 at 19:28, Rod Engelsman wrote:

> Depends how you look at it. The Loan Druid is written in such a way that 
> your input parameters are loan amount, repayment period, and future 
> value. The payment amount is then a calculated result. In order to get a 

Yeah.  The loan/mortgage druid only handles the most basic loans evar. 
For a variety of reasons.

> Are you saying that when you input my numbers into the Druid you get the 
> correct payment and amortization schedule? 

I get the correct payment schedule for the simplest version of the
loan.  Mainly, one in which there is a $8k present value, 3.125%
interest, montly payments and you want them to be $30.


> If so, that leads me to 
> believe there is something wrong with the FC3 package.  But there's an 
> even more fundamental problem. Using the formula for number of payments 
> from the help file (confirmed by doing the same calculation in 
> OpenOffice.org Calc), the correct number of payments should be 206 
> instead of 476!

I believe either you're mis-using the formula, or the equations in the
documentation are incorrect.

The financial calculator, the fin.scm functions and gnumeric [which the
fin.scm functions are re-written from] all agree that in order to have
$30 payments for a loan with a 3.125% intererst rate, a $8183.47 present
value and a $0.00 future value, 476 monthly payments are required.

   pmt( (0.03125/12), 476, 8183.47, 0, 0) = -$30.00


> Unfortunately, I'm not a programmer so I don't know how much I can help 
> on that end, but I would be willing to work on documentation. But first 

Well, the best way for projects to move forward is for people to scratch
their own itches.  If you want the documentation improved, then scratch
scratch scratch.  Answering questions here = excellent.  My itches are
primarily in the code, so the more time I have to attend to them, the
better. :)

...jsled

-- 
http://asynchronous.org/ - `a=jsled; b=asynchronous.org; echo ${a}@${b}`