Loan accounts

Hello -

Many thanks for the explanation. This would be useful for anyone trying 
to use Moneydance to calculate loans.
I am surprised that lenders would be so confusing about interest rates. 
There should be a law requiring clarity.

One thing though - for making additional payments I would have put minus 
quantities in the Extra Principal column,
thinking I was reducing the principal.

Regards

_John Sampson

On 14/10/2011 22:42, Edward A. Melia, C.P.A./Attorney wrote:
[snip]
>
> In addition, when additional principal payments of 4,000 & 3,000 were 
> made, the loan must be recalculated by adding the payments in the 
> Extra Principal column for Moneydance.
>
[snip]
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