Cant work out the loan system...help please!
David Reiser
dbreiser at earthlink.net
Wed Sep 23 10:23:58 EDT 2009
On Sep 23, 2009, at 3:54 AM, ashhash wrote:
>
> Hey all
>
> Ive started using GnuCash for personal finance and cannot, for the
> life of
> me, work out how to enter my car loan into the system. ;p(
>
> The loan is say, $17,000.
> My Fortnightly repayments are $400 (higher than I need to pay to get
> it
> finished faster)
> The interest rate is 9.9% and the financier states that interest "is
> calculated on the daily reducible balance and charged monthly in
> arrears."
>
> I have tried the druid but it really doesnt help me, it doesnt seem
> to be
> flexible enough.
> It doesn't allow me to specify my repayments, instead it determines
> what it
> THINKS I should pay and it doesnt seem to cater for the interested
> calculation ive listed.
>
> Can anyone help me out?
>
> Cheers
> Ash
>
Unfortunately, as you have discovered, the loan druid can't handle
accelerated principal payments.
Dave
--
David Reiser
dbreiser at earthlink.net
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