Hi Santosh
For what i know
If Principal = 50,000, interest = 3% for month
This means the interest charged for one month is 1500 and for 3 months
it will be 4500.
Now in Mifos: when you configure the same principal and interest but
repaid every week for 12 weeks (= 3months) it gives total interest 4,154.
The interest for 1 week should be 375 but the system says it is 346 (
gives 4154 after 12 repayment)
On 02/14/2017 04:26 PM, Santosh Math wrote:
Hi Mexina,
Could you give me the formula which you are using to calculate interest?
On Feb 14, 2017 6:38 PM, "Mexina Daniel" <mex...@singo.co.tz> wrote:
Hi Santosh
I did check it with "Currency multiple of" 1, it still gives wrong interest
https://demo.openmf.org/#/viewloanaccount/625
When you configure loan term in months and repaid every 1 month it give
correct interest with both "Currency multiple of" 1 and "Currency multiple
of" 100.
Regards
On 02/14/2017 01:40 PM, Santosh Math wrote:
Hi Mexina,
I think you set 'Currency in Multiple of ' 100 and it is rounding off to
nearest 100th value. Check it again with 'Currency in Multiple of' as 1.
https://demo.openmf.org/#/editloanproduct/144
On Tue, Feb 14, 2017 at 3:36 PM, Mexina Daniel <mex...@singo.co.tz>
wrote:
Hi dev!
When you apply a loan and configure loan term 12 weeks, number of
repayment 12 and repaid every 1 week, the system wrongly calculate
interest
I reproduced this in https://demo.openmf.org/#/viewloanaccount/624
Am i setting it wrong somewhere?
Thank in advance
--
Mexina M Daniel
Lead Software Developer
Research & Development
Tel:+255 222 618 511 | Mob: +255 712 110 791
Singo Africa Limited
Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es
Salaam
singo.co.tz
Lets grow together
--
Mexina M Daniel
Lead Software Developer
Research & Development
Tel:+255 222 618 511 | Mob: +255 712 110 791
Singo Africa Limited
Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es Salaam
singo.co.tz
Lets grow together
--
Mexina M Daniel
Lead Software Developer
Research & Development
Tel:+255 222 618 511 | Mob: +255 712 110 791
Singo Africa Limited
Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es Salaam
singo.co.tz
Lets grow together
