FINERACT-1981: Function Value using simple interest for EMI calculation #3904
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adamsaghy
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May 28, 2024
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previousFnValue can be final
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Description
In order to calculate the monthly payment, we first need to calculate something called the Fn Value. We're going to be using simple interest. The Fn Value for simple interest is calculated by the following formula:
fn = 1 + fnValueFrom * rateFactorEndFINERACT-1981
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