3 month interest posting and calculation fails in MIFOSTEST-141
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Key: MIFOS-4226
URL: http://mifosforge.jira.com/browse/MIFOS-4226
Project: mifos
Issue Type: Bug
Affects Versions: Release E - Iteration 11
Reporter: Kojo Gambrah-Sampaney
Assignee: keithwoodlock
Priority: Major
Manual testing of MIFOSTEST-141 revealed a failure such that interest was not
posted in the third month, rather interest was posted at the end of the second
month.
My notes from this test case execution is as follows;
MIFOSTEST-141 - http://mifosforge.jira.com/browse/MIFOSTEST-141
Created voluntary savings product with the following details;
1. three month interest calculation
2. three month interest posting
3. 20 percent interest
4. balance for Interest calculation - minimum balance
Created a savings account for a centre on 23/11/2010 with the following
transactions
02/12/2010 deposit 3,000
02/12/2010 deposit 1,000
02/02/2011 deposit 1,000
02/02/2011 deposit 1,000
02/02/2011 deposit 1,000
02/02/2011 deposit 7,000 (non-specific client)
The system date was moved to 02 Feb 2011 and the SavingsIntPostingBatchJob run
The formula for interest calculation , A=P(1+r/n) can be expanded into
A = P [ 1 + {(R/100 x D/F) / n) } ]
since r = R/100 x D/F
for this case,
P = 3,000
R = 20.0
D = 70 days
F = 365 days
n = 3
therefore ;
A = 3000 x [1 + { (20/100 x 70/365) / 3} ]
A = 3000 x 1.012785388
A = 3038.356164384
The result of the interest calculation by mifos (from transaction history) was ;
31/12/2010 Interest_Posting - 11 (note interest is posted in the second
month and not in the third month per the savings product definition)
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