amortize


A

Asussertown

Will MS Money 03 amortize loans and manipulate the numbers? None of the
boxes or the salespeople know.
 
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D

Dick Watson

Money has a type of account, the Loan Account, for amortized loans. It has a
type of transaction, the Loan Payment, that calculates interest expense and
Principal Transfer components of each payment.

That may or may not answer your question.
 
P

Paul Nimoi

Money supports amoritization as far as you being able to punch in the
parameters of your loan and calculating a schedule for you. As far as I know
(and I could be wrong) money does not let you calculate "what-if" scenarios
such as "if a paid an additional $100 a month in principal, how much time
would that take off the life of the loan?"
 
A

Asussertown

Can you go a little farther? I bought but did not open Money Delux 2003. I
want to create a loan account and then be able to miss or add payments from
time to time with the schedule automatically adjusting itself.
 
D

Dick Watson

A Money Loan Account will correctly calculate future payments if you miss
one or correctly add an extra payment.

I'm still not sure if this is what you are asking. Money is like a check
register. It's not a one-size-fits-all financial calculator.
 
A

Asussertown

Thank you for your help. My recollection is that my OLD Money would provide
an am schedule of some sort. I thought it did what my next question
suggests. I'm not sure what you mean by calculate. If I miss or add a
payment, will the am schedule adjust to it for the remaining period by
adjusting the payoff, the interest and principal per month, etc?
Occasionally I have a loan from someone or I make a loan to someone. If it
will do what I just asked, I will open the new box.
 
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D

Dick Watson

Money of recent versions will not generate an amortization schedule by
itself.

Money will correctly compute, or calculate, the interest component of future
Loan Payments given the present balance and interest rate.

Money Loan Accounts can be loans you owe or loans someone owes you.

If you want maximum flexibility for these calculations, Excel can't be beat.

Have you ever used Money for anything? I'm not sure how better to answer
your question and I'm not sure you understand what Money fundamentally is.
It's not a calculator. It's a database for financial transactions.
 
A

Asussertown

I have used Excel and I have a loan in it now. It doesn't seem to allow for
any changes in any of the columns except the EXTRA PAYMENT column. The only
way to make an extra large payment is to do the subtraction problem yourself
outside of Excel and then place the answer in that column. Am I missing
anything?
 
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D

Dick Watson

Maybe that in Excel, everything is infinitely malleable. If you don't like
the spreadsheet the way it is, change it to work the way you would prefer.
Debugging/modifying the formulas in an Excel spreadsheet is outside the
scope of this NG, but microsoft.public.excel.* certainly has lots of people
who dabble in this.
 

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