Hi Tina, Please share the full loan product configuration. On Wed, Jan 23, 2019 at 7:36 PM tina elizabeth <einst...@gmail.com> wrote:
> Dear Users/Ed, > > I have posted a query in the morning which was not listed hence sharing > once again. > > I am trying to derive amortization schedule for the below loan detail. > > Loan amount : 1000 > Term 10: > Floating Rate > 01/22/19 1.85 > 02/22/19 3.85 > > > Base Rate > 01/22/19 2 > 02/10/19 5 > > > FIR Differential 2 > FIR 1 > IR differential 2 > The amort schedule that is getting created is as below : > > > Principal Balance of loan Interest Bill amount > 06/01/18 > > > 1000 > 30 07/01/18 97.55 902.45 6.45 104 > 31 08/01/18 97.96 804.49 6.04 104 > 31 09/01/18 98.53 705.96 5.47 104 > 30 10/01/18 99.4 606.56 4.6 104 > 31 11/01/18 99.96 506.6 4.04 104 > 30 12/01/18 100.65 405.95 3.35 104 > 31 01/01/19 101.25 304.7 2.75 104 > 31 02/01/19 101.84 202.86 2.16 104 > 28 03/01/19 102.51 100.35 1.49 104 > 31 04/01/19 100.35 0 1.2 101.55 > However as per my calculation the interest amount for the 2nd month is > coming as 6.02 instead of 6.04 because of which my whole schedule is going > wrong. > PFB my amort schedule. > > From Date To Date Days Bill Amount Principal amount Interest amount Principal > outstanding amount > > > > > > > 1000 > 1. Jun. 2018 06/30/18 30 $104.00 $97.55 6.4520547945 $902.45 > 1. Jul. 2018 07/31/18 31 $104.00 $97.98 $6.02 $804.47 > 1. Aug. 2018 08/31/18 31 $104.00 $98.64 $5.36 $705.83 > 1. Sep. 2018 09/30/18 30 $104.00 $99.45 $4.55 $606.39 > 1. Oct. 2018 10/31/18 31 $104.00 $99.96 $4.04 $506.43 > 1. Nov. 2018 11/30/18 30 $104.00 $100.73 $3.27 $405.70 > 1. Dec. 2018 12/31/18 31 $104.00 $101.30 $2.70 $304.40 > 1. Jan. 2019 01/31/19 31 $104.00 $101.97 $2.03 $202.43 > 1. Feb. 2019 02/28/19 28 $104.00 $102.39 1.6127847671 $100.04 > 1. Mar. 2019 03/31/19 31 $101.14 $100.04 $1.09 $0.00 > > Please help me to calculate the interest rate used in the month of Jul, > and how is 6.04 derived. > Any pointers will be appreciated. > > Regards > Tina Liz > > > > _______________________________________________ > Mifos-users mailing list > Mifos-users@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/mifos-users > -- Thanks & Regards Santosh Math *QA Engineer* *Conflux Technologies Pvt Ltd <http://www.confluxtechnologies.com/>* | *Office*: +91-080-41208662 | *Address*: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, Bengaluru, Karnataka, 560043 INDIA
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