[FINERACT-313] For Multiple tranche Loans with Equal Principal Payments after submitting the loan application Principal due is not calculating properly

• Type: Bug
• Status: Closed
• Priority: Major
• Resolution: Cannot Reproduce
• Component/s: Loan
• Labels: confirm p1
• External issue URL: https://mifosforge.jira.com/browse/MIFOSX-2130
• Assignee: subramanyasn
• Reporter: Santosh Math
• Created: 20/Dec/16 04:16
• Updated: 23/Jan/17 09:05
• Resolved: 23/Jan/17 09:05

Description

Reported by Subramanya at https://mifosforge.jira.com/browse/MIFOSX-2130

Original Description:
1. Create a Loan product with following datasets
Repayment Strategy:RBI (India)
Repayments:12 every 1 Months
Amortization:Equal principal payments
Interest:12 per annum (1% Per month):Declining Balance
Interest Calculation Period:Daily
Interest Type:Declining Balance
Recalculate Interest Yes
Days in year: Actual
Days in month: Actual
Interest recalculation compounding on: None
Advance payments adjustment type:Reduce number of installments
Frequency for recalculate Outstanding Principal: Every -1 days
Max Tranche Count:2,
2.Submit new loan application for a client on 01 January 2015 with first tranche on same date and 2nd Tranche on 01 March 2015, each with 5000 amount.
> For 01 February 2015 and 01 March 2015 the principal due should be 416.67 (ie 5000/12). and From 01 April2015 to 01 January 2016 principal due should be 916.66 (ie 9166.6/10).
But here it is calculating differently as a result for the last installment principal due is more.