Microsoft KB Archive/128258

Money: Interest Estimator Returns Incorrect Results

PSS ID Number: Q128258 Article last modified on 07-14-1997

3.00

WINDOWS

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WINDOWS kbusage kbtool fixlist4.0

= SYMPTOMS =

In Microsoft Money, the Interest Estimator Financial Wizard may produce incorrect results.

= CAUSE =

To calculate the interest, Money uses the minimum balance over the entire specified period. If the minimum balance is a negative number, the interest calculated will be negative.

= STATUS =

This behavior was corrected in Microsoft Money version 4.0 for Windows 95.

= MORE INFORMATION =

Each account that you have (credit card, savings, interest bearing checking, and so on) defines in its own way of how it will calculate interest paid or charged. For example, some accounts will accrue interest on the average daily balance, but they will compound interest on a monthly basis, while other accounts compound interest on a daily basis. Others will accrue interest on the minimum balance for the period. Still others look at the ending balance on the statement date.

In the Interest Estimator Financial Wizard, Money uses the minimum balance over the entire period specified to calculate the interest estimate.

KBCategory: kbusage kbtool KBSubcategory:

Additional reference words: w_money 3.0a 3.00

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========================================================= Keywords : kbtool kbusage Version : 3.00 Platform : WINDOWS ============================================================================= Copyright Microsoft Corporation 1997.