mortgage payments: split between principal and interest?
Matt Price
matt.price at utoronto.ca
Sat Feb 21 13:02:30 EST 2009
perhaps a stupid question:
I'm trying to schedule payments on our existing mortgage to my new
gnucash file. I'd like to use the mortgage/loan druid but it doesn't
seem to be quite flexible enough for what i need.
I've checked the actual amortization schedule on my bank website, and we
have 662 weekly payments left on a variable-rate mortgage with a
remaining principal of 213258.21 and a current rate of 2.15% (I don't
know how often the rate changes, though i think it's not more often than
quarterly). the druid generates a payment formula that looks like this:
pmt( 0.02150 / 12.00 : 156.00 : 213259.21 : 0 : 0 )
but that ends up getting the amount wrong. can anyone suggest an
improvement, or suggest where to look for more help?
thanks as always,
matt
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