[moneydance] Canadian Mortgage Calculation

[Rod Janes]

I'm don't fully understand the difference, I just make the payments :-)

But:

Canadian Interest calculations for mortgages are defined by  
government legislation. The Act states that interest can only be  
compounded twice annually and that all payments must be in arrears.  
The common terminology used is "Semi Annually and not in advance".
The following site explains in more detail.
http://www.canadamortgage.com/articles/learning.cfm?DocID=29

Rod


> ------------------------------
>
> Message: 3
> Date: Sat, 10 Nov 2007 14:47:25 +0000
> From: apastuszak at gmail.com
> Subject: Re: [moneydance] Canadian Mortgage Calculation
> To: "General Discussion related to Moneydance"
> 	<moneydance-info at moneydance.com>
> Message-ID:
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> cardhu_decombobulator_blackberry.rim.net-362374095- 
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> How are Canadian mortgages calculated?
>
> Andy
>
> Sent via BlackBerry by AT&T
>
> -----Original Message-----
> From: Rod Janes <rod.janes at gmail.com>
>
> Date: Sat, 10 Nov 2007 07:46:30
> To:moneydance-info at moneydance.com
> Subject: [moneydance] Canadian Mortgage Calculation
>
>
> Unfortunately, I now have a mortgage. I have added a loan account to
> cover this, but Moneydance does not calculate the priciple and
> interest payments correctly. It this due to the way a Canadian
> Mortgage is calculated? Can I modify the account settings so it will
> calculate properly?
>
> Rod
>
> The Janes
> Ottawa, Canada
>
>
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The Janes
Ottawa, Canada