Question on setting up a loan

[Nick Elliott]

Hi,

Here's the scenario
- I'm lending money
- interest is calculated daily
- the repayment date is one year from the date of the loan
- every 3 months the borrower may, at their discretion, pay some of the
interest accrued
- I can agree with the borrow to shorten or extend the load period

Based on this when I use the load wizard
- Payment frequency is set to "Every three months"
- Interest Compounding frequency is set to "Daily"
- Interest rate is "Fixed"
- Loan amount and interest rate as as agreed with the borrower
- Term is "1" Payments (I thought this should be 4)
- Payment (principal and interest) is the sum of the original loan plus
interest
- Balloon payment - what is this?

When I set up the loan do I transfer funds to it from the account the money
is coming from?

Thanks

Nick
ᐧ
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mail.kde.org/pipermail/kmymoney/attachments/20190905/a5742c50/attachment.html>