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Bug 120938 - loan druid badly miscalculates amortization schedule
loan druid badly miscalculates amortization schedule
Status: VERIFIED DUPLICATE of bug 343795
Product: GnuCash
Classification: Other
Component: Scheduled Transactions
1.8.x
Other Linux
: Normal normal
: ---
Assigned To: Josh Sled
Josh Sled
Depends on:
Blocks:
 
 
Reported: 2003-08-28 19:30 UTC by Joachim Breitner
Modified: 2018-06-29 20:36 UTC
See Also:
GNOME target: ---
GNOME version: ---


Description Joachim Breitner 2003-08-28 19:30:16 UTC 
Quote http://bugs.debian.org/cgi-bin/bugreport.cgi?bug=196170

Package: gnucash
Version: 1.8.4-1

Going through the loan druid, I produce the following loan amount:
pmt( 0.04995 / 12 : 360 : 269000.00 : 0 : 0 )
which is a 30 year fixed loan at 4.995%.  This is essentially the same
format as in gnumeric, where this equation gives the correct results.

At the last page of the druid
(the Review form), an amortization schedule is presented.

The first year amortization schedule is as follows:

date	principal	interest
6/1 	31,621.10	125,134.00
7/1	44,783.30	111,971.00
8/1	63,424.40	93,330.20
9/1	89,824.80	66,929.80
10/1	127,214.00	29,540.20
11/1	180,167.00	-23,412.80
12/1	255,162.00	-98,407.50

A little off :-)
Comment 1 Josh Sled 2004-03-11 01:04:41 UTC 
reassigning to SX component/owner [me :)], in prep for sweeping
Mortgage/Loan druid issues.
Comment 2 Josh Sled 2004-03-11 01:48:53 UTC 
[I get payments of 1443.23 [split between princ/interest] as expected].

I can't reproduce under 1.8.8 -- are you able to?

pmt( 0.04995 / 12 : 360 : 269000.00 : 0 : 0 )
Comment 3 Rod Engelsman 2005-01-29 08:19:43 UTC 
I am having the exact (sort of) same problem with a new install of 1.8.9 on FC3
from the RedHat installation disc. Except using the OPs numbers I get a payment
amount of 156,755.00, principal of 44,783.30 and interest of 111,971.00 the
first month. Note that the numbers don't even add up. 

I've been having a hell of a time setting up my wife's student loan in gnucash.
I thought I was just doing something stupid wrong -- not understanding the UI
and putting in the wrong numbers, but no conceivable combination of inputs would
give me anything like the right result.

Is this possibly some problem with a messed up lib dependency??

Rod
Comment 4 jlquinn 2006-06-10 02:32:26 UTC 
The original bug looks like it was created by me somewhere else and entered into
bugzilla here by Joachim (the numbers are mine).  Very likely it was the bug I opened for this in Debian and forwarded upstream.

I filed the same problem in bug# 343795 against 1.9.6 and it is now fixed in 1.9.7.

So, I suspect this one can now be closed :-)
Comment 5 jlquinn 2006-06-10 02:34:43 UTC 
Debian bug# 196170
Comment 6 Josh Sled 2006-06-10 02:47:11 UTC 

*** This bug has been marked as a duplicate of 343795 ***
Comment 7 John Ralls 2018-06-29 20:36:36 UTC 
GnuCash bug tracking has moved to a new Bugzilla host. This bug has been copied to https://bugs.gnucash.org/show_bug.cgi?id=120938. Please update any external references or bookmarks.