Microsoft KB Archive/130819

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

= 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 ============================================================================= Copyright Microsoft Corporation 1997.