Interest calculation on flat loans using wrong payment Periods In One Year

Description

Create a flat loan product using 30 days p/m and 360 days p/y repayment type . create a loan using this product

For example: If this works correctly and I do a 30 day loan with 20% per month interest inenvironment I would expect the interest on 1.000$ to be $200. Right now because it defaults to DefaultPaymentPeriodsInOneYearCalculator using the
method public Integer calculate(final PeriodFrequencyType repaymentFrequencyType)
which uses hard coded days in a year as 365 instead of 360 which was created with the product. when previewing the schedule it shows 197.23 instead of 200 dollars.

Environment

None

Assignee

Pramod Nuthakki

Reporter

adzakpasu

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Story Points

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Team

Core

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productboard URL

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Man Day Estimate

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Fix versions

Affects versions

Due date

2015/02/13

Priority

Critical
Configure