Rounding in Mortgage Assistant

[Brian M. Sutin]

The current algorithm is useless if I can't make it agree with my bank.
Could I add $0.01 extra principle to each payment?  I'm not sure how to
do that, but it might work fix the issue for me.  At worst I could make
it an extra entry.

Your solution is definitely best, but I can't really wait for it to be
implemented...

Brian

On Fri, Nov 09, 2012 at 08:48:20AM -0500, Mike or Penny Novack wrote:
> gnucash at skewray.com wrote:
> 
> >I just tried using the Mortgage Assistant in Gnucash 2.4.11.  The mortgage payment
> >came out within one cent of what the bank thinks my mortgage payment should be.
> >How do I make Gnucash Mortgage Assistant round up instead of down?  If that isn't
> >possible, how to I edit the pmt(...) statement to round up?
> >
> >I would suggest that the mortgage assistant be a little more clear about start and
> >end dates.  It isn't clear if the start date is the day the money is borrowed or
> >the date of the first payment.
> >
> >Brian
> >
> 
> Asking for the wrong fix. There is no way to code gnucash so that it
> will always agree with the amortization schedule decided on by some
> bank. Coming to agreement by a cent is actually quite good. Changing
> rounding might make gnucash agree with THIS bank but make it not
> agree with some other bank that it now agrees with. I have written
> amortization table software in my day and the real issue isn't
> rounding but how payments are adjusted in terms of the "best fit"
> for the final payment (what assumptions are made about the final
> payment).
> 
> What we should really be asking for is a "recalc amortization" where
> the payment amount can be specified (to match what the bank is
> insisting upon).
> 
> Michael D Novack, FLMI

-- 
Brian M. Sutin, Ph.D.   Space System Engineering and Optical Design
Skewray Research/750 W 8th St/Claremont CA 91711 USA/(909) 621-3122