Hi, thanks for your answer As a matter of fact, we also need to show to clients the total financing cost (including all fees), with the mind set in transparency. These are two different rates. The Effective Annual Rate (as defined in my previous email) and the Total Annual Loan Cost Rate which includes all fees. I haven't found a clear definition of the second one, that is why I didn't include it on my first email. But if we can find a common ground on what it means and how to calculate it, I could also work on it.
Of course, I would gladly hear any comments or technical recommendations on how to develop it. Regards, Lionel 2017-04-12 23:55 GMT-03:00 Ed Cable <edca...@mifos.org>: > Hi Lionel, > > Thanks for raising this question on the lists. I will defer to Nazeer to > follow up and reply about this but I would like to also see us be able to > easily calculate and display the APR as part of client protectionism and > transparency efforts. > > It was on our roadmap a while back but nobody ever picked it up. It would > be great to be able to easily display the APR for a loan product inclusive > of fees so this could easily be disclosed to a client. > > Ed > > On Tue, Apr 11, 2017 at 4:23 PM, Lionel Raymundi - Poincenot < > lio...@poincenot.com> wrote: > > > Hi guys, > > > > I need to get the Effective annual interest rate of a loan as defined in > > [1] > > I have not found this rate information in any service, is it being > > calculated anywhere? If it is not, could I add it to the response of the > > following services? > > .- POST Calculate loan repayment schedule > > .- GET retrieve a loan > > > > Thanks! > > > > Lionel > > > > [1] http://www.investopedia.com/terms/e/effectiveinterest.asp > > > > > > -- > *Ed Cable* > President/CEO, Mifos Initiative > edca...@mifos.org | Skype: edcable | Mobile: +1.484.477.8649 > > *Collectively Creating a World of 3 Billion Maries | *http://mifos.org > <http://facebook.com/mifos> <http://www.twitter.com/mifos> >
