/*
* Copyright (c) 2005-2011 Grameen Foundation USA
* All rights reserved.
*
* Licensed under the Apache License, Version 2.0 (the "License");
* you may not use this file except in compliance with the License.
* You may obtain a copy of the License at
*
* http://www.apache.org/licenses/LICENSE-2.0
*
* Unless required by applicable law or agreed to in writing, software
* distributed under the License is distributed on an "AS IS" BASIS,
* WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or
* implied. See the License for the specific language governing
* permissions and limitations under the License.
*
* See also http://www.apache.org/licenses/LICENSE-2.0.html for an
* explanation of the license and how it is applied.
*/
package org.mifos.clientportfolio.newloan.domain;
import java.math.BigDecimal;
import java.util.List;
import org.joda.time.DateTime;
import org.joda.time.LocalDate;
import org.mifos.framework.util.helpers.Money;
/**
* Implementation of {@link LoanInterestCalculator} for a variable installment loan product.
*
* Interest is calculated based on a daily frequency (even if product is weekly or monthly).
*
* see http://mifosforge.jira.com/wiki/display/MIFOS/Variable+Loan+Installments+and+Cash+Flow+Comparison+Functional+Spec
*/
public class FlatWithInterestCalculatedDailyLoanInterestCalculator implements LoanInterestCalculator {
private InterestCalculationForumula formula = new DecliningBalanceWithInterestCalculatedDailyFormula();
@Override
public Money calculate(LoanInterestCalculationDetails loanInterestCalculationDetails) {
Double interestRate = loanInterestCalculationDetails.getInterestRate();
Money loanAmount = loanInterestCalculationDetails.getLoanAmount();
Money totalInterestOwed = new Money(loanAmount.getCurrency(), BigDecimal.ZERO);
LocalDate interestPeriodStartDate = loanInterestCalculationDetails.getDisbursementDate();
for (DateTime installmentDueDate : loanInterestCalculationDetails.getLoanScheduleDates()) {
Money interestForInstallment = formula.calculate(loanAmount, interestRate, interestPeriodStartDate, new LocalDate(installmentDueDate));
totalInterestOwed = totalInterestOwed.add(interestForInstallment);
interestPeriodStartDate = new LocalDate(installmentDueDate);
}
return totalInterestOwed;
}
}