Hello Keith, It would be nice if total interest due for the whole loan adds up to effectively bring the total installments due for the whole loan similar to that of Flat or Declining Balance. Or if Declining Balance with interest recalculation can be calculated Monthly instead of Daily.
I have been reading on EFFECTIVE RATES, dont know if this can help me get a way to calculate the annual effective rate of 10% Per Month? On Feb 27, 1:27 am, Keith Woodlock <[email protected]> wrote: > Thomas, > > you would expect the total interest due for first installment of the > loan whether its flat or declining to be the same. However mifos > 'produces equal installments by default' and so the total installment > due might well be off due to this. are you talking about the total > installment due or the total interest due? > > Keith. > > > > On Thu, Feb 23, 2012 at 12:26 PM, Thomas (Uganda) <[email protected]> wrote: > > 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 > > ------------------------------------------------------------------------------ > 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 ------------------------------------------------------------------------------ Keep Your Developer Skills Current with LearnDevNow! The most comprehensive online learning library for Microsoft developers is just $99.99! Visual Studio, SharePoint, SQL - plus HTML5, CSS3, MVC3, Metro Style Apps, more. Free future releases when you subscribe now! http://p.sf.net/sfu/learndevnow-d2d _______________________________________________ Mifos-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/mifos-users
