Creating Loan Account

[Wayne Bird]

Dear GnuCash,

I'm trying to set up a car loan account for an existing loan that I have.

I've created a Fixed Asset: 2009 Chevy Aveo with an opening balance of $9000 (estimated selling price, if I were to sell it today).  I still owe money on it, so I created a loan account, Liability: Loans: 2009 Chevy Aveo.  I set up the loan in the following steps; see attachments screenshots 1 thru 7.  GnuCash is not setting up the data as seen in screenshot 7 -- the vehicle loan still shows $0.00.  What am I doing wrong?

The data:
Loan amt: $7810.52
Loan interest rate: 5.5%
No of months: 60
Monthly payment amt: $149.19
Additional monthly principle payment: $150.81 in order to reduce number of months.

Thanks for your help!!

Wayne
 		 	   		  
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