Rounding of minimum and maximum interest rates inconsistent across application
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Key: MIFOS-4276
URL: http://mifosforge.jira.com/browse/MIFOS-4276
Project: mifos
Issue Type: Bug
Components: Loan Account
Affects Versions: Release E
Environment: Release Namemifos-v1.7.x-beta
Commit Identifier874b78eb8759af0a248ae41ea3e7d5eba7f9724b
Build DateTue Nov 02 08:55:39 PDT 2010
Build Numberhudson-head-1.7.x-163
Reporter: Milan Patel
Mifos is said to allow for rounding of interest rates to 5 decimals.
For minimum and maximum interest rates, as set on the loan product, this is
indeed possible. However, on the loan account itself, the minimum and maximum
interest rates is limited to 4 decimal places. THis is most likely because
table max_min_interest_Rate, fields min_interest_rate and max_interest_rate are
limited in the database to 4 decimal places. ( on table loan_offering, same
fields are set to 10dp).
Note that extended rounding of decimals may be more important as Mifos enters
different markets, because at moment the interest rate must be in APR format
with daily compounding of interest. Here the market generally uses an
effective rate which must be converted for Mifos, which means that we are
specifying the rate to 4 or 5 decimals. This currently seems to be sufficient
for our purpose, but may not be for all clients / markets.
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