Hi!
I have a form which calculates loan payments over time.
Users apply for a loan are asked to repay within 6 months and need to pay a fee per month.
Something like this:
Someone applies for 40000
5% of that is 2000
Over 6 months that is a fee of 2000 a month.
If they pay it back after 3 months, they would pay 40000 + 6000
If they repay after 8 months, would that be 40000 + 16000 + Penalty
In order to calculate this I currently have set up a repeat group to capture each payment.
Date of payment and payment made.
The sum of the payment is then calculated outside of the repeat.
In order to calculate the correct fee I would need to know the final payment made and see if this is within 6 months of the application.
To keep the form as simple as possible for the user I would ideally want to pull the date from the LAST payment made and calculate the fee from that. Is that possible or I am overthinking this.
Thanks