Microsoft KB Archive/121668

Loan Calculator May Give Incorrect Results

PSS ID Number: Q121668 Article last modified on 12-11-1997

3.00

WINDOWS

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3.00 WINDOWS kbother kbprb

SUMMARY =======

The Loan Calculator in Money 3.0 may give incorrect results if the Payment Frequency is changed after a calculation has been performed. Note that changing other loan information such as amount, interest rate, or loan length does not cause these incorrect results.

MORE INFORMATION ================

Before entering a new loan or changing the Payment Frequency of an existing loan, click the Clear All button. You will have to re-enter all the loan information.

Steps to Reproduce Problem ————————–

  From the Tools menu, choose Financial Wizards.   Select the Loan Calculator.   Choose the Clear All button and enter the following loan information: First Payment Date: Current date Loan Amount: $20,000.00 Interest Rate: 7% Loan Length: 5 years Payment Frequency: Monthly Payment Amount: Balloon Payment: $0.00   Choose Calculate, and the Payment Amount will be calculated to be $396.02, which is correct.   Change the Payment Frequency to Bimonthly. Choose Calculate. The Payment Amount will be incorrectly calculated at $794.36 (should be $793.97).   To obtain a correct calculation, choose the Clear All button and re-enter the above loan information with a Payment Frequency of Bimonthly. The Payment Amount will now be correct at $793.97. 

KBCategory: kbother kbprb KBSubcategory: Wizards

Additional query words: Wizards kbhowto w_money financial wizards 3.00 ====================================================================== Keywords : kbother kbprb Version : 3.00 Platform : WINDOWS ============================================================================= Copyright Microsoft Corporation 1997.