[GNC] Mortgage & Loan Repayment Assistant woes

[Stan Brown]

On 2021-09-16 10:31, Chris Mitchell wrote:
> I recognize the values it asked me for, so that's good I guess. At no
> point thus far do I see anything that I recognize as a place to enter
> my *actual payment* amount, which strikes me as surprising.


The periodic payment amount can be computed from the principal amount,
payment frequency, loan term, and interest rate, so GC doesn't need to
ask for it.

>then specify the frequency (every 2 weeks, on Thursday, starting
> today). The "Amount" field is a non-editable display showing a
> formula that I don't understand, namely:
> pmt( [MyInterestRate/100] / 12.00 : [MyMonthsRemaining].00 :
> [MyPresentBalance] : 0 : 0 )

That divisor of 12 tells me that GC is treating your payments as monthly
rather than biweekly. I wonder if you've turned up a bug.

I don't think you said which version of GC you're using, and that would
be a relevant bit of information. I have an older version (2.8.19, I
think), which offers only monthly and annual payment options, so I can't
really help you with biweekly. But you will have seen the email from
Jean Laroche. Please be sure to mention your GC version number in your
follow-up to Jean's suggestion.

-- 

Stan Brown

Tehachapi, CA, USA

https://BrownMath.com

https://OakRoadSystems.com