I need to setup an old loan. I entered the details through the wizard for home mortage. I entered all the payments, but I didn't realize it wasn't doing split payments automatically. When I make an old payment, I want the interested to be applied and principle. Currently, it is just reducing the total payment from the principle. I don't understand. The loan is 12% interest, but it makes principle only payments. I used quicken back in 1993 and it was easy to use, split payments were done automatcally,, fast forward 20 years and it is harder? Why? Please help me provide me a link to what I need to do. When I look at the summary, I want to see the break down of payments of total interest paid and principle paid. Also, is there anything you need to do, if you made payments of 300.00, then apply the extra to principle?
Start Date 4/5/1995
Loan 20 years
Interest 12% Compounded Monthly.