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From "Mexina Daniel (JIRA)" <j...@apache.org>
Subject [jira] [Commented] (FINERACT-417) The interest distributed is not correct when "interest free period" has a value and interest method is flat
Date Thu, 09 Mar 2017 08:57:38 GMT

    [ https://issues.apache.org/jira/browse/FINERACT-417?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=15902705#comment-15902705
] 

Mexina Daniel commented on FINERACT-417:
----------------------------------------

Hi Santosh, as you can see the repayment schedule of the loan you applied, the interest distributed
from the 2nd installment upto the 11th installment is 305.56 and the last installment it supplied
with 611.07. It was expected to distribute equal interest to all  installments (which is 333.33)

> The interest distributed is not correct when "interest free period" has a value and interest
method is flat
> -----------------------------------------------------------------------------------------------------------
>
>                 Key: FINERACT-417
>                 URL: https://issues.apache.org/jira/browse/FINERACT-417
>             Project: Apache Fineract
>          Issue Type: Bug
>          Components: Loan
>            Reporter: Mexina Daniel
>            Assignee: Markus Geiss
>            Priority: Minor
>              Labels: p2
>
> When in loan product the "interest free period" has a value, In the Repayment Schedule,
the total interest required is correct but the distribution of the interest is not.
> Reproduce by:
> 1 Create loan product: Admin->Products->Loan Product->Create 
> 2. Default amount 40,000, re-payed every 1 month, number of repayments 4., nominal interest
rate 10, interest free period put  1, interest method : flat
> 3.Submit
> 4. Apply a loan to an active client and submit
> When you view a repayment schedule, the interest in first installment is 0, the interest
in rest of installment are not equal even though it gives the correct total interest.



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