Modern Electronics (was Re: List charter mods & headcount... ; -))

From: John Allain <allain_at_panix.com>
Date: Mon Jun 21 12:13:27 2004

> I also was unable to ever get the bank to tell me exactly how interest
> was calculated - I had to juggle possibilities myself until I came up
> with one that tracked the bank's numbers exactly.

Well, it was sitting on PC's as an open source basic program for years.
'mortgage.bas', IIRC. Personal belief is that all interest rate
calculations
operate like this, with the banks options only being what to do when a
person wants to prepay, and, optional fees at closing. Basically they
could fudge the beginning or the end, but not what happens in-between.
...Best choosing a fixed interest rate over a variable one for this.

John A.
Received on Mon Jun 21 2004 - 12:13:27 BST