Money Loan Calculator: Daily or Weekly Payments Not Calculated (125058)

The information in this article applies to:

Microsoft Money 2.0
Microsoft Money 3.0
Microsoft Money for Windows 95
Microsoft Money 97

This article was previously published under Q125058

SYMPTOMS

The Loan Calculator in Microsoft Money will not calculate payment information if you enter values in the Loan Length box in months or years and if you enter Loan Payment Frequency as daily, weekly, or every other week (biweekly). When you do this, the following message will be displayed:

You have entered a payment frequency and loan length that do not allow Microsoft Money to calculate the exact number of payments.
Please enter the length of the loan as a number of payments.

CAUSE

This problem occurs because the number of days and weeks in a year or month is not constant. Some months have 31 days, while others have fewer than 31. Therefore, Loan Calculator cannot determine the correct number of days necessary to calculate the loan.

RESOLUTION

To resolve this problem, use any of the following methods.

Method 1: Enter a number of payments for Loan Length instead of daily,
          weekly, or every other week (biweekly).

Method 2: Enter a Payment Frequency other than daily, weekly, or every
          other week (biweekly).

STATUS

Microsoft has confirmed this to be a problem in Microsoft Money version 3.0 for Windows and Money version 4.0 and 5.0 for Windows 95. We are researching this problem and will post new information here in the Microsoft Knowledge Base as it becomes available.

Modification Type:	Major	Last Reviewed:	11/24/2003
Keywords:	KB125058