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https://issues.apache.org/jira/browse/FINERACT-825?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Michael Vorburger updated FINERACT-825:
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Priority: Critical (was: Blocker)
> Installment amount defined for flat type loans is not working properly for
> Amortization "Equal Installments" Set for weekly repayments
> ---------------------------------------------------------------------------------------------------------------------------------------
>
> Key: FINERACT-825
> URL: https://issues.apache.org/jira/browse/FINERACT-825
> Project: Apache Fineract
> Issue Type: Bug
> Components: Loan
> Environment: Ubuntu 14, Mysql 5.5, tomcat7
> Reporter: TOLBERT DEREK
> Priority: Critical
> Labels: flat, interest, loan, repayment
> Attachments: loanerror.png
>
>
> We have set a loan of 5000 with equal installments repayments of 4 every
> week. Interest paid for the month is 1600 which is 32% per month.
> Instead of interest calculated weekly for the 4 repayments to be the right
> 400 figure it calculates 369.23 which is a wrong figure.
> So the repayment schedule is flat interest 369.23 instead of 400 per week.
>
> [https://demo.openmf.org/] I have tried here with a sample test loan and test
> client. Same results
>
> Kindly assist anyone we are stuck with provided POC.
>
> Thank you in advance
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