Change to mortgage P&I caused by extra payment

[david.carlson.417]

Regardless of why a user wants to fiddle with an amortization type of scheduled transaction, how could it be done in GnuCash? 
e.g. If the PV is off by 30 dollars, can that be changed in the SX to correct future interest calculations?
David C
Sent via the Samsung Galaxy S® 5 ACTIVE™, an AT&T 4G LTE smartphone

-------- Original message --------
From: Mike or Penny Novack <mpnovack at mtdata.com> 
Date: 12/23/16  9:02 AM  (GMT-06:00) 
To: gnucash-user at gnucash.org 
Subject: Re: Change to mortgage P&I caused by extra payment 

On 12/23/2016 1:33 AM, JimR wrote:
> Thanks Peter.  The mortgage is actually variable 2.75%, but locked at
> that rate for the first 5 years.  After that, it can only change once
> each year.
>

There are simply too many possibilities for how an amortization table is 
created for us to expect agreement to the penny << where rounded off, 
how the end condition (the final payment) is to be treated,  etc. >>

When you make an additional principle pyement, in effect you have 
eliminated a payment in whole or in part << if you make the extra amount 
match the principle payment you have eliminated that payment and are 
skipping to the next >>  You might try having gnucash recalculated as if 
it were a new loan for the new amount and the N remaining payments. If 
the extra payment you made is NOT the exact amount of principle for the 
next N payments the "new loan" is the only way you can do it. But do NOT 
expect agreeing to the penny << I have written programs to calculate 
payments and produce amortization tables in my day -- including ones 
where it was possible to induce them to readjust to match what a bank 
had, but THAT perforce a manual operation of the sort "try adjusting up 
(or down) a penny >>

Michael D Novack
_______________________________________________
gnucash-user mailing list
gnucash-user at gnucash.org
https://lists.gnucash.org/mailman/listinfo/gnucash-user
-----
Please remember to CC this list on all your replies.
You can do this by using Reply-To-List or Reply-All.