Mortgage amortization table

Marty Fix martyf1 at sbcglobal.net
Thu Dec 18 23:29:51 EST 2008


Hi all,
	I am trying to setup a mortgage in Gnucash 2.2.8, but cannot seem to  
get the correct values for principal and interest.  The values I am  
using in the loan druid is

Amount: 		101,000.00
Interest Rate: 	6.875%
Start Date: 		7/12/2001
Length:			180 Months
Repayment:		Starting 9/1/2001 on the 1st of every month

Every other mortgage calculator I use (including my bank)  says the  
first payment on 9/1/2001 is $900.78		322.13 Principal and 587.65  
Interest
The loan druid gives me a first payment on 9/1/2001 of  
900.77												323.97 Principal and 576.80 Interest

I can understand the .01 payment difference but not the large  
difference in principal and interest.  Am I using the druid wrong, or  
are the calculations in error?

				Marty


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