Hello, just need some clarification when using declining balance with interest recalculation in mifos
Scenario 1: When i use Flat interest rate of 120 per annum , Loan Amount: 2,000,000 and 1 installment = Expected payback is 2,200,000 Scenario 2 When i use Declining Balance with Interest Recalculation, Interest rate of 120 per annum , Loan Amount: 2,000,000 and 1 installment = Expected payback is 2,151,232.9 Am curious how the difference comes about, my assumption would be that the payback installment would be 2,200,000 for both. Because i would like use Declining Balance - Interest Recalculation method n have the payback amount as 2,200,000. Tx ------------------------------------------------------------------------------ Virtualization & Cloud Management Using Capacity Planning Cloud computing makes use of virtualization - but cloud computing also focuses on allowing computing to be delivered as a service. http://www.accelacomm.com/jaw/sfnl/114/51521223/ _______________________________________________ Mifos-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/mifos-users
