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http://mifosforge.jira.com/browse/MIFOS-5035?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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keithwoodlock updated MIFOS-5035:
---------------------------------
Description:
The 'variable installments' feature added for loans in 2.1 limits interest
calculation for that type of product to be declining but it differs from
'declining' used previously in application as it calculates the interest based
on days and not weeks/months frequency which will cause some differences in
interest computed.
Tejus updated the specs to desbribe this here under the heading "Repayment
Schedule Generation":
http://mifosforge.jira.com/wiki/display/MIFOS/Variable+Loan+Installments+and+Cash+Flow+Comparison+Functional+Spec
was:The 'variable installments' feature added for loans in 2.1 limits
interest calculation for that type of product to be declining but it differs
from 'declining' used previously in application as it calculates the interest
based on days and not weeks/months frequency which will cause some differences
in interest computed.
> Interest calculation for variable installment loans should be declining but
> with daily interest calculation and should be recalculated when dates are
> changed on 'review installments page' of loan creation
> ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
>
> Key: MIFOS-5035
> URL: http://mifosforge.jira.com/browse/MIFOS-5035
> Project: mifos
> Issue Type: Bug
> Components: Loan Account
> Affects Versions: Release G
> Reporter: keithwoodlock
> Assignee: keithwoodlock
> Priority: Critical
> Fix For: Release G - Iteration 8, Release G
>
>
> The 'variable installments' feature added for loans in 2.1 limits interest
> calculation for that type of product to be declining but it differs from
> 'declining' used previously in application as it calculates the interest
> based on days and not weeks/months frequency which will cause some
> differences in interest computed.
> Tejus updated the specs to desbribe this here under the heading "Repayment
> Schedule Generation":
> http://mifosforge.jira.com/wiki/display/MIFOS/Variable+Loan+Installments+and+Cash+Flow+Comparison+Functional+Spec
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