mikes1531
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Post by mikes1531 on Jul 16, 2014 15:32:16 GMT
Isn't this thread exciting! 
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baz657
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Post by baz657 on Jul 16, 2014 15:38:18 GMT
This post is intentionally blank  |
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mikes1531
Member of DD Central
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Post by mikes1531 on Jul 16, 2014 16:31:16 GMT
This post is intentionally blank Oh no it's not! ... or is July too late -- or too early -- for panto?
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Post by cyrilmadrid on Aug 10, 2014 15:00:57 GMT
I understand this is still pending.... Not that it has a huge impact, but would like to be able to consider the issue as closed.
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TFTO
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Post by TFTO on Aug 15, 2014 7:38:11 GMT
I have a problem with interest calculations at payment time, it could be me in which case somebody explain where I am going wrong. The figures are just as downloaded from dashboard not a calculation I have made.
N***h L*****n W***dT*****e, Amount invested £500. Accrual at 07:00 on 14/08/2014 £4.10. Interest Paid 14/08/2014 £3.95.
R******h C********l P******y. Amount invested £900. Accrual at 07:00 on 14/08/2014 £7.92. Interest Paid 14/08/2014 £7.83.
There are more going back months but I have only noticed this morning.
Chris.
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Post by Jack Barlow on Aug 15, 2014 9:22:06 GMT
I have a problem with interest calculations at payment time, it could be me in which case somebody explain where I am going wrong. The figures are just as downloaded from dashboard not a calculation I have made. N***h L*****n W***dT*****e, Amount invested £500. Accrual at 07:00 on 14/08/2014 £4.10. Interest Paid 14/08/2014 £3.95. R******h C********l P******y. Amount invested £900. Accrual at 07:00 on 14/08/2014 £7.92. Interest Paid 14/08/2014 £7.83. There are more going back months but I have only noticed this morning. Chris. This is where I think your numbers have come from: N***h L*****n W***dT*****ePayment date 13/08/14 for 1 month period 13/07/14 to 12/08/14 incl., so interest received a day late Interest paid = 5 * rounddown (100 * 9.5%/12) = £3.95 Accrued interest = 5 * round[100 * 9.5%/12 * (31/31 + 1/31)] = £4.10, covers the period 13/07/14 to 13/08/14 incl. R******h C********l P******yPayment date 14/08/14 for 1 month period 14/07/14 to 13/08/14 incl., so interest received on time Interest paid = 9 * rounddown (100 * 10.5%/12) = £7.83 Accrued interest = 9 * round[100 * 10.5%/12 * 31/31] = £7.92, covers the same period Essentially, the apparent discrepancies that you've identified seem to arise from the different rounding applied for the accrual estimate vs. the actual payments. I'm sure chris will correct me if I'm wrong.
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Post by chris on Aug 15, 2014 10:28:17 GMT
I believe that to be correct, but will double check the code to make sure over the next couple of days. The new site simplifies the way interest is calculated so that the same function is used in both places rather than there being two code paths, so they'll marry up perfectly then.
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TFTO
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Post by TFTO on Aug 15, 2014 10:42:31 GMT
I believe that to be correct, but will double check the code to make sure over the next couple of days. The new site simplifies the way interest is calculated so that the same function is used in both places rather than there being two code paths, so they'll marry up perfectly then. Thanks, make life easier.
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Post by Ton ⓉⓞⓃ on Aug 15, 2014 13:56:37 GMT
That sounds like Lenders won't hold loans in units any more, but one big blob per loan?
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Post by chris on Aug 15, 2014 16:46:50 GMT
That sounds like Lenders won't hold loans in units any more, but one big blob per loan? In effect, although from a technical point of view that blob can be broken apart as required. Shouldn't be noticeable to the end user unless you go looking for it.
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kermie
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Post by kermie on Aug 15, 2014 16:56:42 GMT
That sounds like Lenders won't hold loans in units any more, but one big blob per loan? In effect, although from a technical point of view that blob can be broken apart as required. Shouldn't be noticeable to the end user unless you go looking for it. I guess it depends a bit how the back-end is modelled. Breaking blobs apart is easy - but combining blobs is harder because different blobs are bought at different times and hence result in different amounts of interest being accrued. I guess, however, once the month's interest is paid, all recently bought blobs can be combined (at least, this is the model I have in my head when I track my due interest - once I get the interest, I scrap any notes I've made about having acquire loan units in the preceding month). There are bound to be many more subtleties (such as defaults, partial payments and goodness-only-knows-what). I can imagine chris had quite a bit of fun designing the back-end model.
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Post by chris on Aug 15, 2014 21:25:56 GMT
In effect, although from a technical point of view that blob can be broken apart as required. Shouldn't be noticeable to the end user unless you go looking for it. I guess it depends a bit how the back-end is modelled. Breaking blobs apart is easy - but combining blobs is harder because different blobs are bought at different times and hence result in different amounts of interest being accrued. I guess, however, once the month's interest is paid, all recently bought blobs can be combined (at least, this is the model I have in my head when I track my due interest - once I get the interest, I scrap any notes I've made about having acquire loan units in the preceding month). There are bound to be many more subtleties (such as defaults, partial payments and goodness-only-knows-what). I can imagine chris had quite a bit of fun designing the back-end model. Due to the deferral of interest it's not so tricky. At the moment the system, as you suggests, will merge loan units after a repayment but I'm in the middle of recoding the deferred interest system to simply track the amount of time that other people have held a given loan unit. By recording the amount of principal that was held that record can then follow a loan unit when it's merged into another one, and we can use that record to resolve the amount of interest to pay to each lender. Sounds more complicated than it is in practice.
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Post by cyrilmadrid on Aug 16, 2014 19:14:18 GMT
chris, since April we are waiting for these corrections. You can imagine that after 4 months, during which the problem has probably compounded, it's going to become more and more complicated to correct these miscalculations. I understand you have been busy with the new site, but this correction cannot wait for ever. Thanks.
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Post by Ton ⓉⓞⓃ on Aug 17, 2014 0:22:48 GMT
chris, since April we are waiting for these corrections. You can imagine that after 4 months, during which the problem has probably compounded, it's going to become more and more complicated to correct these miscalculations. I understand you have been busy with the new site, but this correction cannot wait for ever. Thanks. I agree with you cyrilmadrid, I don't think I'm owed that much, can we have a time frame chris? I'm not saying do it now, just when. I suppose the ideal time might be just after the new site kick-off. I assume that kick off to be early Sept then that would make this Interest re-calculation and pay out to be mid-sept, is that reasonable? IN EDIT I can well imagine that part of the solution to the problem is having the new site up and running, I accept this.
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Post by chris on Aug 17, 2014 7:42:59 GMT
I am sorry it's taking so long, but I do believe that the problem has been fixed for transactions set up / created after that fix was put in place so the problem shouldn't be compounding. The timeline suggested by Ton is entirely reasonable and should be the worst case. My work on the new site is drawing to an end so I'll hopefully get to it sooner than that.
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