[FINERACT-1745] Loan Schedule Final Installment calculation issue

• Type: Bug
• Status: Resolved
• Priority: Critical
• Resolution: Fixed
• Affects Version/s: 1.7.0
• Fix Version/s: 1.7.2
• Component/s: Loan
• Assignee: Dhaval Maniyar
• Reporter: Bharath Gowda
• Created: 15/Sep/22 11:50
• Updated: 28/Nov/22 17:53
• Resolved: 08/Nov/22 06:21

Description

In an interest recalculation enabled loan, we are noticing the EMI of the last installment is going wrong for the following scenario 

 

To reproduce

1. Create the loan product as per the config attached
2. Have working day configured from Monday to Friday with "move to next working day"
3. Create a loan account and disburse with the following parameters
   1. Disbursement date: 6th May 2022
   2. First Repayment date: 27th May 2022
   3. amount: 7800
   4. repay: 60 every 1 month
   5. interest rate 8.9 per annum (which will get you an EMI 161.08
   6. Now make the repayments in the following order
      1. 27-May-2022 - 161.08
      2. 27-June-2022 - 161.08
      3. 27-Jule-2022 - 161.08
      4. 30-August-2022 - 161.08
      5. 01-sept-2022 - 15
   7. Now check the repayment schedule EMI of the last installment it will be showing the wrong amount.
4. Check the schedule screenshot for examples

 

Issue Links

• blocks: FINERACT-1799 Release Apache Fineract 1.7.2
• links to: GitHub Pull Request #2690