Rounding in Mortgage Assistant

[Tom C Keene]

As a general rule mortgage companies round to benefit the company.  So when calculating mortgage interest they will always round up.  Does Mortgage Assistant always round interest up?

Tom

On Nov 12, 2012, at 9:41 AM, Derek Atkins wrote:

> gnucash at skewray.com writes:
> 
>> 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.
> 
> My first guess is that the interest rate you think you're paying isn't
> exactly the interest rate the bank is charging you.  For example,
> perhaps they are rounding the rate at 3 or 4 digits?
> 
>> Brian
> 
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> 
> -derek
> 
> -- 
>       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
>       Member, MIT Student Information Processing Board  (SIPB)
>       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
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