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https://issues.apache.org/jira/browse/FINERACT-69?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Awasum Yannick reassigned FINERACT-69:
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Assignee: (was: Markus Geiss)
> Wrong interest amount when using Rounding Mode - Down/Floor for Flat Loans
> --------------------------------------------------------------------------
>
> Key: FINERACT-69
> URL: https://issues.apache.org/jira/browse/FINERACT-69
> Project: Apache Fineract
> Issue Type: Improvement
> Components: Loan
> Reporter: George Lteif
> Priority: Major
> Attachments: screenshot-1.png
>
>
> For organizations using the Floor rounding Mode, the expected behavior is to
> have the rounding rules done for the loan schedules and not the total
> interest amount
> what is currently done in Mifos X is applying the rounding rule on the total
> interest amount calculated first which is leading to a loss of profit for the
> organization
> Scenario:
> create a FLAT interest loan product with a monthly 1.3% interest rate
> rounding mode is set to Floor
> create a loan for the amount of 2900$ over a period of 21 months repayments
> (one repayment per month)
> expected result would be
> 2900*1.3%*21 repayments = 791.7
> it should always be rounded up here regardless of the rounding mode being set
> to not lead to any loss of profit
> interest calculated in MifosX is 791 (screenshot attaches)
> which is a 0.7$ or 1$ less than expected
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