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Strange defaultsStrange defaultsPosted Sep 14, 2005 5:09 UTC (Wed) by jstAusr (guest, #27224)Parent article: The Grumpy Editor's guide to personal finance managers (Part I)
>though with some strange defaults (interest rate of 0.001%, for example)
But what would be the correct default? I should think that the closer that default got to reality the more chance the user would think an incorrect calculation was correct. Unless the default happened be be exactly correct of course. In other words, if the user failed to put in a corrected rate it probably would be better that the default calculation is as obviously wrong as possible.
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Strange defaults Posted Sep 14, 2005 5:47 UTC (Wed) by khim (subscriber, #9252) [Link] >>though with some strange defaults (interest rate of 0.001%, for example) > But what would be the correct default? I should think that the closer that default got to reality the more chance the user would think an incorrect calculation was correct. Unless the default happened be be exactly correct of course. In other words, if the user failed to put in a corrected rate it probably would be better that the default calculation is as obviously wrong as possible. Then why the hell standard interest rate was selected instead ? 0.001% is standard interest rate in most Japanese banks (not exactly correct, of course: there are 30% tax, so actual interest rate is 0.0007% - but may be taxes are counted elsewhere in GnuCash).
Strange defaults Posted Sep 14, 2005 6:18 UTC (Wed) by jstAusr (guest, #27224) [Link] Well, he was writing about the Mortgage/Loan Druid. If I can borrow money in Japan at .001 annual percentage rate, please, sign me up.
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