Changing Payment Frequency Alters Number of Loan Payments
  
PSS ID Number: Q130819
Article last modified on 07-14-1997
 
2.00 2.00a 3.00 3.00a
 
WINDOWS
 

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2.00 2.00a 3.00 3.00a
WINDOWS
kbusage
 
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The information in this article applies to:
 
 - Microsoft Money versions 2.0, 2.0a, 3.0, and 3.0a
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SYMPTOMS
========
 
When you use the Loan Wizard to change the frequency of payments for an
existing loan, the number of remaining payments is calculated incorrectly.
 
Although the number of remaining payments shown at the end of the Loan
Wizard appears correct, the number of remaining payments in the Loan
Details window and the Loan Calculator may not be correct.
 
CAUSE
=====
 
This problem occurs because Money always recalculates the number of
payments based on the original start date of the loan.
 
RESOLUTION
==========
 
To avoid this problem, do not change the payment frequency of an
existing loan. Instead, create a new loan with the desired payment
frequency and enter all of the other necessary loan information.
 
MORE INFORMATION
================
 
This problem also occurs in the loan calculator if the frequency or number
of payments is changed for a previously calculated loan.
 
For additional information about loan calculations, please see the
following article(s) in the Microsoft Knowledge Base:
 
   ARTICLE-ID: Q121668
   TITLE     : Loan Calculator May Give Incorrect Results
 
Microsoft has confirmed this to be a problem in Money versions 2.x,
3.0, and 3.0 a. We are researching this problem and will post new
information here in the Microsoft Knowledge Base as it becomes
available.
 
KBCategory: kbusage
KBSubcategory:
 
Additional reference words: kbhowto w_money 2.00, 2.0a, 3.00, 3.0a
 
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Keywords            : kbusage
Version             : 2.00 2.00a 3.00 3.00a
Platform            : WINDOWS
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Copyright Microsoft Corporation 1997.