Santhoshkumar created FINERACT-781:
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Summary: Provision to change Loan EMI formula
Key: FINERACT-781
URL: https://issues.apache.org/jira/browse/FINERACT-781
Project: Apache Fineract
Issue Type: Improvement
Components: Loan
Reporter: Santhoshkumar
If there is any provision for change or override formulas for Loan EMI
calculation and other place over admin panel might be very useful for different
regions
(eg) Loan EMI formula mostly used EMI = [P x R x (1+R)^N]/[(1+R)^N-1] is
differ in platform
where P stands for the loan amount or principal, R is the interest rate per
monthand N is the number of monthly installments
(source
:[https://www.businesstoday.in/moneytoday/banking/how-to-calculate-emi-on-your-loans-formula-explanation/story/198944.html])
or Detailed document to change formula also helpful
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