Dear Experts,
I have a scenario, where I was not successful in configuration steps. I hereby share this scenario with you.
Please help. Its Urgent
- Loan shall be recorded and calculated as below.
- The start date of the Loan shall be any within financial year, but the instalment shall be completed by the end of 12th period i.e… March.
- The Instalment shall generate equal payments monthly including cumulated interested diminished monthly along with principle amount. For Example, Loan availed is Rs.100000 /- for 10 month instalment with 10% interest.
Month | Loan Balance | Principle Amt | Interest | Installment |
1 | 100000 | 9598 | 909 | 10506.80 |
2 | 90402 | 9685 | 822 | 10506.80 |
3 | 80717 | 9773 | 734 | 10506.80 |
4 | 70944 | 9862 | 645 | 10506.80 |
5 | 61082 | 9952 | 555 | 10506.80 |
6 | 51131 | 10042 | 465 | 10506.80 |
7 | 41089 | 10133 | 374 | 10506.80 |
8 | 30956 | 10225 | 281 | 10506.80 |
9 | 20730 | 10318 | 188 | 10506.80 |
10 | 10412 | 10412 | 95 | 10506.80 |
Please help.
Thanks
Uday