puzzle about Mortgage and Loan payments (2.4.0, OS X 10.5.8)

Anthony Dardis adardis at gmail.com
Wed Jan 5 12:27:27 EST 2011

Tried the Mortgage and Loan payment wizard to set up a mortgage:

Amount: $100000.00
term: 360 months
type: fixed
rate: 4.875%
loan start: 6/1/2009
first payment: 7/1/2009
principal to: Liabilities:Mortgage
interest to: Expenses:Interest:Mortgage
(no other payments, no escrow, tax, etc.)
pay on first of month

where: US

(a) the first payment recorded is $133.34 to principal, $395.87 to  
interest. Two standard amortization calculators on the net

say that the correct amounts are $122.96 and $406.25. The rest of the  
payments until this month are similarly off.

[I'm playing with this (with the old start dates) because I wanted to take  
advantage of the fix to GnuCash's SX calculator that should get the  
amortization right. I got similar results with my actual mortgage.]

(b) when the wizard gets to the point of reviewing the entry and  
presenting the amortization schedule, none of the options caused it to  
display any of the amortization schedule.

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