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Subject: [OASIS Issue Tracker] Updated: (OFFICE-1049) Public Comment: ODFF:IPMT

• From: OASIS Issues Tracker <workgroup_mailer@lists.oasis-open.org>
• To: office@lists.oasis-open.org
• Date: Sun, 25 Oct 2009 18:15:15 -0400 (EDT)

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[ http://tools.oasis-open.org/issues/browse/OFFICE-1049?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]

Robert Weir  updated OFFICE-1049:
---------------------------------

Proposal:
Correct the 2nd of this function's two examples.  The value of =IPMT(5%/12;10;360;100000;0;1) should be -410.375128 + epsilon.  The offset note and todo note for this function can then be removed.

We should also add a section at the beginning of the financial functions to set out some of the nomenclature for describing these functions.  We should then use these terms consistently.  For example, we could say:

An annuity is a recurring series of payments.  A "simple annuity" is one where equal payments are made at equal intervals, and the compounding of interest occurs at those same intervals.    The time between payments is called the "payment interval".  Where payments are made at the end of the payment interval, it is called  an "ordinary annuity".  Where payments are made at the beginning of the payment interval, it is called an "annuity due".  Periods are numbered starting at 1.

I compared results in Excel, OpenOffice and Gnumeric (1.9.1).  I did not see a discrepancy for the annuity due case.  They all reported: (\$410.375128)
I also calculated this value directly, without using spreadsheet formulas and got the same result.  So our example appears to be incorrect.

> Public Comment: ODFF: IPMT
> --------------------------
>
>                 Key: OFFICE-1049
>                 URL: http://tools.oasis-open.org/issues/browse/OFFICE-1049
>             Project: OASIS Open Document Format for Office Applications (OpenDocument) TC
>          Issue Type: Bug
>          Components: OpenFormula
>    Affects Versions: ODF 1.2
>            Reporter: Robert Weir
>            Assignee: Robert Weir
>            Priority: Minor
>             Fix For: ODF 1.2
>
>
> Copied from office-comment list
> Original author: "David King" <openoffice@drking.plus.com>
> Original date: 12 Aug 2008 20:51:14 -0000
> Original URL: http://lists.oasis-open.org/archives/office-comment/200808/msg00019.html

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