ChatGPT-Calculate PPM (Payment Drawdown Schedule)

ChatGPT-Calculate PPM (Payment Drawdown Schedule)-Prompt

ChatGPT-Calculate PPM (Payment Drawdown Schedule)-Results

ChatGPT-Calculate PPM (Payment Drawdown Schedule)(Word Doc)

Notes:

After a few edits on ChatGPT, finally got the results I wanted to see. ChatGPT requires significant details for inputs as it looks like it’s based on iteration. For example, it understands how to calculate fortnightly correctly, but it has issues when calculating quarterly as it’s based on every iteration output when the fortnightly MMMYY period is shown. ChatGPT treats it as 2 iterations if it has 2 payments in the month, and 3 iterations if it has 3 payments in the month. I had to state the detail to Calculate Quarterly Fees for Water, Council, Electric, Gas only once per Quarter.

Regarding the first few prompts, ChatGPT somehow doubled on the Mortgage Payments when calculating the Quarterly Summary. It shouldn’t have since the fortnightly calculation is correct. I had to state the detail to Ensure that the Mortgage Payments Total is less than 10K Quarterly, and Total Mortgage Payments is under 42K for the year. It’s the same to us, but not to ChatGPT as the results are based on each iteration.

For now, I haven’t included Mortgage Interest since it doesn’t impact as as our Offset Account is above the remaining mortgage, so no mortgage interest is owed. As for Prepaid Mortgage (PPM), we currently have 325K as of SEP24. +12.5K for OCT24. Target 350K by DEC24. If we can achieve this, we can offset our payments by using the drawdown method on the PPM to free up our cash flow.