Quantcast
Channel: SCN : All Content - All Communities
Viewing all articles
Browse latest Browse all 3668

can anyone help me on below loan issue? how can i do this configuration?

$
0
0
  1. A) Interest Bearing Normal Loan (Only Principle is reduced)

 

Example: Employee has taken 1000rs   as a loan with the interest of 1% on 1000. He wants to

Re-pay   1000rs in 5 install ments. That means 5* 200= 1000. In 5 periods he wants to clear the amount.

 

Example:

 

              Period No:               Monthly Installment        interest (1%)                    Remaining

 

  1. 1.   01.04.2015-----------------200-----1% on 1000 = 10 ----------210  = 800
  2. 2.   01.05.2015-----------------200-----1%  on 800 = 8 ------------208  =600
  3. 3.   01.06.2015-----------------200-----1%  on 600 = 6-------------206  = 400
  4. 4.   01.07.2015-----------------200-----1%  on 400 = 4 ------------204  = 200
  5. 5.   01.08.2015-----------------200-----1%  on 200 = 2-------------202  = 0

 

 

Loan Amount

Principle

  1. Int. Act. (%)

1000

200

210

800

200

208

600

200

206

400

200

204

200

200

202

0

-

-

 

Here Monthly Principle amount (200) is same for all periods until Loan amount will get Zero.


Viewing all articles
Browse latest Browse all 3668

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>