Scheduled transaction problem

[Doug Laidlaw]

On Saturday 26 April 2008 6:46:26 am Ian Merrithew wrote:
> I've got a scheduled transaction that has seemingly stopped computing
> properly, it's my car payment.  Here is the template:
>
> Ian's Chequing Credit pmt( 0.05900 / 12 : 60.00 : 21989.69 : 0 : 0 )
> Loan - Principal Debit ppmt( 0.05900 / 12 : i : 60.00 : 21989.69 : 0 : 0 )
> Loan - Interest Debit ipmt( 0.05900 / 12 : i : 60.00 : 21989.69 : 0 : 0 )
>
> So that looks right.  But here's what's happened in the principal register:
>
> Payment #1 315.98
> Payment #2 317.54
> Payment #3 319.10
> Payment #4 320.67
> Payment #5 320.67 (should be 322.24)
> Payment #6 320.67 (should be 323.83)
> etc.
>
> I'm up to 6 principal payments in a row of 320.67, with the corresponding
> interest figure.
>
> Any ideas why the calculation seems to be stuck on payment #4?

I can't guess, but the formula seems to be no longer working.

With each princcipal repayment, the interest is less.  That leaves more to 
come off the principal.  For some reason, the interest is no longer being 
reduced.  Did you tell it there were only 4 calculations, or something like 
that?

Doug.