loan repayment

[arvindkits]

Monthly installment calculation is
(Loan Amount / (12 * number of years of year repayment)) + 7% of (loan Amount)
In case the customer forgets to pay the installment amount for n months the next bill
would show the pending amount as well as the fine for the month.
Fine for n months is:-
12 % of monthly installment * n
A customer can also check the status of the loan request. After the EMI, if the customer
logs in to check his new bill details, the updated bill with the pending amount should be
shown. Customer should also have the payment option, where the customer enters the bill
number, and the amount paid and the system assumes that the payment for that particular
bill has been done.

[chrisname]

That's interesting. Do let us all know when you're done :)

[buffbill]

I suggest you run it out in lotus or excel and then post your code indicating where you need help.