Money 2007 - Debt Reduction Planner

I have setup credit card accounts and line of credit accounts.  The minimum 
payments are not rounded to the nearest dollar.  When you move these accounts 
into the Debt Reduction Planner they round the minimum payment up to the 
nearest dollar.  At the end of the DRP it sets up your payments 
automatically.  If it uses the minimum payment, it says that there is 
unassigned money.

I know it behaved like this in 2005 also, so I assume 2006.  Why does it 
round up?
0
Matty (7)
7/29/2006 12:11:01 AM
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I guess it's so that if Money's calculation of monthly interest and the CC 
company's are off by a few cents, you don't get penalised for making an 
under payment. Has always been thus AFAIK.

-- 
Regards
Bob Peel,
Microsoft MVP - Money

For UK tips & fixes see
http://support.microsoft.com/default.aspx?scid=fh;EN-GB;mny.


I do not respond to any emails that I have not specifically asked for.

"Matty" <Matty@discussions.microsoft.com> wrote in message 
news:F64F22F9-10CD-4980-9990-593B0D5C906B@microsoft.com...
>I have setup credit card accounts and line of credit accounts.  The minimum
> payments are not rounded to the nearest dollar.  When you move these 
> accounts
> into the Debt Reduction Planner they round the minimum payment up to the
> nearest dollar.  At the end of the DRP it sets up your payments
> automatically.  If it uses the minimum payment, it says that there is
> unassigned money.
>
> I know it behaved like this in 2005 also, so I assume 2006.  Why does it
> round up? 


0
bob_peel2056 (736)
7/29/2006 6:20:16 AM
Reply:

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