This is what i want to achieve loan of 300,000 for 3 months repay is 1 week so interest should be 3750 per week so for three months that would be 3750*12 weeks =45000 so overall after three months it should total to 345,000
On Thu, Dec 12, 2019 at 5:21 PM Jun King Miñon <j...@pearlpay.io> wrote: > Hi Sam, > > I guess it will be helpful for us if you also provide information > (screenshot) about your expected output. In any case, are you looking to > have below values? > > > Date Days Disbursement Principal Balance Principal Due Interest Due Fees > Penalty > > Due > 12 December 2019 300,000 300,000 0 > 0 > 1 19 December 2019 7 275,000 25,000 3,461.54 0 > > 28,461.54 > 2 26 December 2019 7 250,000 25,000 3,461.54 0 > > 28,461.54 > 3 02 January 2020 7 225,000 25,000 3,461.54 0 > > 28,461.54 > 4 09 January 2020 7 200,000 25,000 3,461.54 0 > > 28,461.54 > 5 16 January 2020 7 175,000 25,000 3,461.54 0 > > 28,461.54 > 6 23 January 2020 7 150,000 25,000 3,461.54 0 > > 28,461.54 > 7 30 January 2020 7 125,000 25,000 3,461.54 0 > > 28,461.54 > 8 06 February 2020 7 100,000 25,000 3,461.54 0 > > 28,461.54 > 9 13 February 2020 7 75,000 25,000 3,461.54 0 > > 28,461.54 > 10 20 February 2020 7 50,000 25,000 3,461.54 0 > > 28,461.54 > 11 27 February 2020 7 25,000 25,000 3,461.54 0 > > 28,461.54 > 12 05 March 2020 7 0 25,000 3,461.52 0 > > 28,461.52 > Total 84 300,000 300,000 41,538.46 0 > > 341,538.46 > > If yes, then on the loan product creation have you tried setting the days > in year and days in month both to *actual*? > > Regards, > > Jun King P. Miñon > Consultant Software Engineer > Core Banking Solutions > > > On Thu, Dec 12, 2019 at 8:12 PM Matanda Samuel <mimatv...@gmail.com> > wrote: > >> Hi am trying to setup mifos x loan product that is repaid weekly but >> given the calculation by the system its giving me less interest as compared >> to what the actual should be and yet when i set repayment to monthly the >> calculations turn out to be correct >> example 1 >> Ronah takes loan of 300,000ugx at 5% per month for 3 months but has to >> pay back every week >> >> AND below is what the system is calculating yet 5% of 300,000 ugx by >> weekly which is wrong what >> [image: image.png] >> >> >> i need help on this issue >> >> [image: top image] >> Samuel Matanda >> Network /Systems Administrator IT CONSULTANT / UGANDA >> mimatv...@gmail.com >> mobile: + 256394828579 | phone: + 256772074604 >> >> [image: bottom image] >> IT CONSULTANT / UGANDA >> >> Please consider the environment before printing ...this campaign is run >> by Environment friends like you and me please join the campaign >> _______________________________________________ >> Mifos-users mailing list >> Mifos-users@lists.sourceforge.net >> https://lists.sourceforge.net/lists/listinfo/mifos-users >> > > > PEARLPAY INC. > > 2nd Floor, 22 The Jupiter Center, Jupiter Street, Makati, 1209 Metro > Manila, Philippines > > https://www.pearlpay.com > https://www.linkedin.com/company/pearlpay > https://www.facebook.com/PearlPayOFFICIAL > > This email and any files transmitted with it are confidential and intended > solely for the use of the individual or entity to whom they are addressed. > If you have received this email in error please notify the system manager. > This message contains confidential information and is intended only for the > individual named. 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