Re: [Mifos-users] Issue with interest calculated.

[NayanGA <nay...@gm...>]

Thanks, In my mind It was always full 1 year. I got it.

On Fri, Apr 16, 2010 at 9:26 PM, Pooja Chauhan
<po...@an...> wrote:

    Nayan

    50 weeks = not a full year, the interest is calculated for only
50*7 days. calc 8000*0.15*50*7/365/50 = 23.01 Rest also depends on
number of days in your year (360 or 365) and your rounding
configuration.

    I think it is just an oversight at your end.

    Regards
    --- Pooja.
    +91 96505 63337

On Apr 16, 8:06 pm, Nayan Ambali <nay...@gm...> wrote:
> I created Loan Product with 15% flat interest and Loan amount 8000 for 1
> cycle with 50 installments weekly.
> When Loan is disbursed it is showing  160 Principal  , 23 Interest.
>
> But Interest should have been  24 Interest
>
> I tested this in Demo server as well as on my local machine
>
> Regards
> Nayan G. A.
> 9901154134
>
> --
> Regards
> Nayan G. A.
> 9901154134
>
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