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Former Member
Dec 08, 2011 at 08:29 AM

Loan interest rounding offf

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Dear ALL,

1.Loan Interest amount to be rounded off:

Example for this issue is as follows

An employee has taken loan for example 10000 on dated 01.05.2011 and with a interest rate of 12.5% and monthly instalment 2000 and interest schedule is shown below .

Start Date End Date Loan balance Payment Loan repayment Reg.repaymnt Intrst-brng capital Interest/per.

01.05.2011 31.05.2011 8,000.00 10,000.00 2,000.00 2,000.00 10,000.00 106.16

01.06.2011 30.06.2011 6,000.00 0 2,000.00 2,000.00 8,000.00 82.19

01.07.2011 31.07.2011 4,000.00 0 2,000.00 2,000.00 6,000.00 63.7

01.08.2011 31.08.2011 2,000.00 0 2,000.00 2,000.00 4,000.00 42.47

01.09.2011 30.09.2011 0 0 2,000.00 2,000.00 2,000.00 20.55

In the above schedule in the month of 01.05.2011 to 31.05.2011 interest is calculated as 106.16(1000012.5%/36531) .so I want that amount to be rounded.