Why doesn't Quicken correctly calculate auto loan (daily) interest?

Crista
Crista Quicken Windows Subscription Member
in Paying Bills, Online Billers & Reminders (Windows)

Seems like you geniuses could figure that out rather quickly.

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Because "daily Interest" loans are entirely dependent upon when the lender posts the payments. And upon the number of days between payments.

    Q can't know that.

    Q is VERY accurate in calculating "monthly interest" loans, such at most mortgages … but the calculation of daily interest loans is ENTIRELY lender dependent.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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