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http://mifosforge.jira.com/browse/MIFOS-4276?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Kay Chau updated MIFOS-4276:
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Fix Version/s: Mifos Backlog
Assignee: mifosdeveloperqueue
> Rounding of minimum and maximum interest rates inconsistent across application
> ------------------------------------------------------------------------------
>
> 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
> Assignee: mifosdeveloperqueue
> Fix For: Mifos Backlog
>
>
> 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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