Mobius Card - Interest Calculation Step 2 Breakdown.xlsx
Formula:
Accrued Interest = Principal * Pricing Rate * Days owed * YearlyBasedRate
System will accrued based on principal owed and Capitalized the interest on cycle date
tbl_cardcore_interest_transaction_group_bearing_balance
entry_date: date trx was posted
debit_interest_rate: interest rate calculated (based on pricing plan)
pricing_plan_code: pricing plan used (based on pricing plan attached during account creation)
value_date: transaction date when the payment posted
prv_interestbearing_balance: principal amount after payment knockoff
new_postings_to_int_balance: new payment posted
accrued_interest: amount the interest accrued
capitalised_interest: amount subjected to be posted as Cash Interest
not_capitalised_interest: amount that was not posted as Cash Interest
interest code: interest code attached to the transaction