Incorrect last installment calculation in Declining Balance - Equal Principal
Installment
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Key: MIFOS-5635
URL: http://mifosforge.jira.com/browse/MIFOS-5635
Project: mifos
Issue Type: Bug
Components: Loan Account
Environment: Build Date Sun Jun 10 17:20:03 PDT 2012
Build Number hudson-head-master-archive-887
Reporter: Łukasz Babski
Priority: Major
Fix For: Release J
Attachments: EPIblad.png
Incorrect last installment calculation in Declining Balance - Equal Principal
Installment
Repro:
# Choose any client with weekly meeting frequency
# Create Loan account with Declining Balance - Equal Principal Installment
interest rate
# Parameters of account: Loan Amount : 16400, Interest rate = 40%, num of
installments = 11
Information on
[PAGE|http://mifos.org/functional-specifications/system-processing/interest-calculations-loan-accounts]
says about Equal Principal Installemnt that:
"This means that the borrower pays equal installments of principal for the
duration of the loan...".
Which means that each Principal for the duration of the loan have to be the
same.
As it is shown on attached file it isn't.
Actual Result:
Last Principal is not the same as the rest.
Expected result:
Every Principal is the same for the duration of the loan.
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