Hello everybody,
I would like to get your assistance with this matter.
I configured a borrowing product in Money Market and this product has a specific particularity.
It has a 3 year long contract, with annual repayment installments; however, the nominal interest amount should calculate the amount based on the repayment amount only, and not on the total borrowing amount.
I created the repayment structure matching the nominal interest, so that they due together. However the system did not calculate the value due in nominal interest based on the repayment amount due in the instalment, instead calculating the value on the total based amount of the contract.
I would like to know if there is any possibility where the system will calculate the amount of nominal interest based only on the installment repayment amount due?
Thank you for your assistance with this matter.
Regards,
Fausto