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From "Adi Raju (JIRA)" <j...@apache.org>
Subject [jira] [Commented] (FINERACT-39) Simple Interest Calculation for Savings
Date Fri, 26 Feb 2016 05:53:18 GMT

    [ https://issues.apache.org/jira/browse/FINERACT-39?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=15168496#comment-15168496
] 

Adi Raju commented on FINERACT-39:
----------------------------------

[~dharp@mifos.org] In the current implementation, while creating a savings product, if we
choose "interest compounding period" and "interest posting period" to be same (for eg. quarterly
for both), we should achieve the stated requirement. I do not see need for any enhancement.
Is there any difference that we are missing here? We have asked the same question on the mifos
JIRA issue as well, but it is not answered yet. I think we do not need this enhancement.

> Simple Interest Calculation for Savings
> ---------------------------------------
>
>                 Key: FINERACT-39
>                 URL: https://issues.apache.org/jira/browse/FINERACT-39
>             Project: Apache Fineract
>          Issue Type: Improvement
>          Components: Savings
>            Reporter: Dayna Harp
>            Assignee: Markus Geiss
>            Priority: Minor
>
> https://mifosforge.jira.com/browse/MIFOSX-2297
> [~adi.raju] For simple interest calculation, the formula would simply be: Simple Interest
= Prinicipal*Rate*Time
> http://www.financeformulas.net/Simple_Interest.html



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