Hi, Here are the settings: Amortization: Equal installments Interest method: Flat Interest calculation period: Same as repayment period Repayment strategy: Mifos Style
see attached screenshot Regards, On Monday, February 24, 2014 1:50:00 PM UTC-5, Binny Gopinath Sreevas wrote: > > Hi Glen, > > > > According to my calculation, the total interest for a 40,000 loan at 3.5% > interest per annum on declining balance repaid weekly over 72 weeks should > be higher than 350. > > > > Could you send your calculations in an Excel sheet and the screen shot of > what you are seeing in Mifos? > > > > Thanks > > Binny > > > > > > *From:* Glen Etienne [mailto:glet...@gmail.com <javascript:>] > *Sent:* 24 February 2014 22:58 > *To:* mifos...@googlegroups.com <javascript:> > *Cc:* A good place to start for users or folks new to Mifos. > *Subject:* Re: [Mifos-users] payment schedule came out with wrong > interest calculation > > > > > > On Monday, February 24, 2014 11:09:14 AM UTC-5, Glen Etienne wrote: > > I set up a loan for 40, 000.00 with an interest of 3.5 72 installments 1 > payment per week. We were expecting the interest to be 350 but we got > 323.08. Would you happen to know what went wrong? >
<<attachment: mifos-.PNG>>
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