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Posted to issues@fineract.apache.org by "Edward Cable (JIRA)" <ji...@apache.org> on 2019/05/31 18:31:00 UTC
[jira] [Updated] (FINERACT-612) Interest Calculation for partial
early payment is incorrect
[ https://issues.apache.org/jira/browse/FINERACT-612?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]
Edward Cable updated FINERACT-612:
----------------------------------
Labels: 2019-mifos-gsoc gsoc p2 (was: gsoc p2)
> Interest Calculation for partial early payment is incorrect
> -----------------------------------------------------------
>
> Key: FINERACT-612
> URL: https://issues.apache.org/jira/browse/FINERACT-612
> Project: Apache Fineract
> Issue Type: Bug
> Components: Loan
> Affects Versions: 1.0.0
> Environment: https://demo.openmf.org/#/viewloanaccount/2522
> Reporter: Marcell
> Priority: Major
> Labels: 2019-mifos-gsoc, gsoc, p2
>
> Loan Configuration :
> Interest : 32.04% / year
> Loan term 150 Days
> Repayment : 1x
> Disburse date : 4 Oct 2017
> Mature Date : 3 Mar 2018
> Loan Amount : 85,000,000
>
> 1st early repayment
> Date : 25 Jan 2018
> Amount : 9,000,000
> Expected allocated paid to interest : 113 Days x (32.04%/360) = 8,548,450
> Expected allocated paid to pricipal : 9,000,000 - 8,548,450 = 451,550
> However, Mifos allocate all payment into interest
> https://demo.openmf.org/#/viewloanaccount/2522
>
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