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From "Santosh Math (JIRA)" <j...@apache.org>
Subject [jira] [Updated] (FINERACT-317) Installment amount defined for flat type loans is not working properly for Amortization "Equal Installments"
Date Wed, 21 Dec 2016 10:53:58 GMT

     [ https://issues.apache.org/jira/browse/FINERACT-317?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]

Santosh Math updated FINERACT-317:
----------------------------------
    Attachment: 116.png
                115.png

> Installment amount defined for flat type loans is not working properly for Amortization
"Equal Installments"	
> -------------------------------------------------------------------------------------------------------------
>
>                 Key: FINERACT-317
>                 URL: https://issues.apache.org/jira/browse/FINERACT-317
>             Project: Apache Fineract
>          Issue Type: Bug
>          Components: Loan
>            Reporter: Santosh Math
>            Assignee: Markus Geiss
>         Attachments: 115.png, 116.png
>
>
> Reported by Subramanya at https://mifosforge.jira.com/browse/MIFOSX-2260
> Original Description:
> 1. Create Loan product with Amortization -"Equal Installment" and Interest type as "Flat",
Select the check box "Allow fixing of the installment amount".
> 2. Submit new loan application for a client with the above loan product on 01 September
2015, Loan amount 10000, no. of repayments 12, repaid every 1 month, define installment amount
as 950.
> > Since installment amount is defined all installment amount should be 950, since
flat interest method is defined interest calculated should be 100 throughout the loan and
for last installment the repayment should get adjusted with the balance.
> > Here it is displaying installment amount as 933.33 only.



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