Money: Creating a Variable Interest Rate Amortization Schedule
  
PSS ID Number: Q124863
Article last modified on 07-14-1997
 
2.00 3.00 3.00a
 
WINDOWS
 

======================================================================
 
2.00 3.00 3.00a
WINDOWS
kbusage kbprb kberrmsg
 
------------------------------------------------------------------------
 The information in this article applies to:
 
  - Microsoft Money versions 2.0, 3.0, and 3.0a
------------------------------------------------------------------------
 
SYMPTOMS
========
 
In Microsoft Money, to create a variable interest rate amortization
schedule, you must create a loan using one interest rate and then modify
that rate for a specific time period. However, when you attempt to change
the interest rate to a future time period, Money returns an error message
similar to the following:
 
   You have entered a date after today, so Money will make the loan changes
   effective immediately.
 
CAUSE
=====
 
Money does not allow a change effective for a future date.
 
WORKAROUND
==========
 
NOTE: When you complete this procedure, be sure to set the date in Control
Panel back to today's date.
 
Use the following steps to create a Variable Interest Rate Amortization
Schedule:
 
1. In Windows Control Panel, double click the Date/Time icon. In the
   Date/Time box, change the currently listed date to the date of the last
   interest rate change for the proposed loan. Choose OK and close Control
   Panel.
 
2. Start Money, and choose Loan List from the List menu, and then choose
   Create.
 
3. Create the loan in the usual manner. When you are prompted with the
   "Have any payments  been made on this loan?" message, choose Yes.
 
   You will then be prompted with the "Do you want Money to record all the
   scheduled payments?" message.
 
4. Choose Yes, and record all the scheduled payments.
 
   You will be prompted with "What is (or was) the due date of the first
   payment on this loan?"
 
5. Enter the appropriate date. Calculate the loan in the usual manner,
   and enter the requested information for each screen. When prompted for
   an interest rate, enter the starting interest rate for the loan, and
   complete the loan in the usual manner.
 
6. After the loan is created, choose Loan List from the List menu. In the
   Loan List box, choose the Loan that you just created, and then choose
   Change Loan Information.
 
7. When prompted with the "What part of your loan do you want to change?"
   message, choose Interest Rate.
 
8. At the "When do you want these changes to take effect?" prompt, enter
   the date on which the loan's second interest rate will take effect.
 
9. Repeat steps 6 8 for each subsequent interest rate change.
 
To print the amortization schedule:
 
1. Switch to the Loan window.
 
2. In the Loan box on the toolbar, choose the Loan you want to include in
   the report.
 
3. From the Reports menu, choose Loan Payment Report.
 
This report should reflect the interest rate changes for the loan.
 
KBCategory: kbusage kbprb kberrmsg
KBSubcategory:
 
Additional reference words: 2.00 3.00 3.00a Loans w_money Amortize mortgage
 133484
 
======================================================================
Keywords            : kberrmsg kbprb kbusage
Version             : 2.00 3.00 3.00a
Platform            : WINDOWS
=============================================================================
Copyright Microsoft Corporation 1997.