21 Jun
2004
21 Jun
'04
6:31 a.m.
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.