Hi all Please, someone can help me.
We require payments including VAT with equal installments, because this is easier for clients. Example: - Amount: 10,000 - Interest Rate: 12% - Term: 24 months monthly payments - VAT: 16% of interest Normally what we do is increase the VAT percentage to the interest rate, that is, 12% * 1.16 = 13.92%. For later when calculating the EMI amount, break down the VAT of the interest, this on repayment schedule. In this escenario, we calculated EMI amount: Excel Formula : = pmt (13.92% / 12, 24, -10000) = $ 479.75 Taking period 1 as a reference within the normal payment schedule would be as follows: * Interest: $ 116.00 - calculation: (10000 * 13.92% / 12) * Principal: $ 363.75 - Calculation: EMI Amount - Interest ( 479.75 -116) * EMI amount: $ 479.75 What we do in the final payment schedule is break down VAT dividing the interest by 1.16. In period 1, divide = 116/1.16 = 100 for interest and 16 for VAT And it is as follows: Repayment schedule for period 1: # Principal Interest VAT Installment amount 1 $ 363.75 $ 100.00 $ 16.00 $479.75 2 $367.97 $ 96.36 $ 15.42 $479.75 In this scenario, there are equal installments amounts. I created a loan here https://demo.mifos.io/#/viewloanaccount/3648, and added a 16% interest charge(https://demo.mifos.io/#/viewcharge/552), however the repayments are different in each period. [image: image.png] Is there some option to achieve this? Thank you a lot! -- LSC. Luis Alegría INNOVARAPP *La información contenida en este correo electrónico y anexos es confidencial. Ésta dirigida únicamente para el uso del individuo o entidad a la que fue dirigida y puede contener información propietaria que no es del dominio público. Si has recibido este correo por error o no eres el destinatario, por favor notificar al remitente de inmediato y borra este mensaje de la computadora o dispositivo. Cualquier uso, distribución o reproducción de este correo que no sea por el destinatario de intención queda prohibido.*
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