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Old 04-07-2005, 02:57 AM
Chris Cowles
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Default Re: Mortgage Compounded Daily and Paid Monthly

Money doesn't have that level of detail. What I do is enter the term,
payment, etc., and let Money calculate the interest rate. It may be off
slightly from the bank's. At the end of the year, I reconcile it to the
mortgage statement. A simple once-a-year adjustment is easy enough.
--
Chris Cowles
Gainesville, FL


"David E." <DavidE[at]discussions.microsoft.com> wrote in message
news:876DF339-F473-436F-9B09-E1E50453C15F[at]microsoft.com...
- quote -

> Does anyone know how to set up a mortgage/loan so that the payment
> interest
> and principle are calculated based on compounding the balance daily
> instead
> of monthly, which seem to tbe the default? Quicken gave the user the
> option
> of selecting that the loan was compounded daily, monthly, ...



  #-1  
Old 04-07-2005, 02:29 AM
David E.
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Posts: n/a
Default Mortgage Compounded Daily and Paid Monthly

Does anyone know how to set up a mortgage/loan so that the payment interest
and principle are calculated based on compounding the balance daily instead
of monthly, which seem to tbe the default? Quicken gave the user the option
of selecting that the loan was compounded daily, monthly, ...
 

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compounded, daily, monthly, mortgage, paid
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