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https://issues.apache.org/jira/browse/FINERACT-343?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=15863520#comment-15863520
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Santosh Math commented on FINERACT-343:
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Not reproducible. For flat loan 20% per month with 1,000, the repayment
schedule is showing interest as 200.
[~andrew.dzak], Do you think this issue still exists? I tested it on
16.12.01.RELEASE.
> Interest calculation on flat loans using wrong payment Periods In One Year
> --------------------------------------------------------------------------
>
> Key: FINERACT-343
> URL: https://issues.apache.org/jira/browse/FINERACT-343
> Project: Apache Fineract
> Issue Type: Bug
> Components: Loan
> Reporter: Santosh Math
> Assignee: Markus Geiss
> Labels: P2
>
> Reported by AndrewDzakpasu at https://mifosforge.jira.com/browse/MIFOSX-1887
> Original Description:
> Create a flat loan product using 30 days p/m and 360 days p/y repayment type
> . create a loan using this product
> For example: If this works correctly and I do a 30 day loan with 20% per
> month interest in environment I would expect the interest on 1.000$ to be
> $200. Right now because it defaults to
> DefaultPaymentPeriodsInOneYearCalculator using the
> method public Integer calculate(final PeriodFrequencyType
> repaymentFrequencyType)
> which uses hard coded days in a year as 365 instead of 360 which was created
> with the product. when previewing the schedule it shows 197.23 instead of 200
> dollars.
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