Strange defaults

Strange defaults

Posted Sep 14, 2005 5:47 UTC (Wed) by khim (subscriber, #9252)
In reply to: Strange defaults by jstAusr
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.

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).

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