ECM-Period Interest Incorrect when Paydown/Drawdown Entered Mid-Period
Last updated on MAY 29, 2018
Applies to:PeopleSoft Enterprise FIN Deal Management - Version 9.2 and later
Information in this document applies to any platform.
A floating-rate deal with monthly interest payments is created. When a paydown is entered in the middle of the period the calculation will use the interest rate from the prior month for the days up to paydown, and then use the correct interest rate for the remaining days of the period.
The calculation should use the same interest rate for the entire period and should be the rate that corresponds to the period in which the paydown was entered.
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