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http://mifosforge.jira.com/browse/MIFOS-3427?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]
Kay Chau updated MIFOS-3427:
----------------------------
Fix Version/s: (was: Release E - Iteration 12)
Release E - Iteration 13
> Document Average savings calcuation
> ------------------------------------
>
> Key: MIFOS-3427
> URL: http://mifosforge.jira.com/browse/MIFOS-3427
> Project: mifos
> Issue Type: Bug
> Components: Documentation
> Affects Versions: Release 1.6.0
> Reporter: jbrewster
> Assignee: Kay Chau
> Fix For: Release E, Release E - Iteration 13
>
>
> Need to document how Average balance savings products do their interest
> calculation. I believe I properly reversed-engineered the calculation in a
> spreadsheet attached to issue MIFOS-3312. For 3 month interest calculation,
> interest is for current loan with an average balance of 1200, interest 8%:
> The average balance is the average of all the daily balances for that
> interest calculation period.
> A=P(1+(r/n))
> A=1200(1+(.08/4))
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