MMEX - V1033: Term deposits

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MMEX - V1033: Term deposits #1721

Open rmkhalfay opened 1 week ago

rmkhalfay commented 1 week ago

Hi, In India we have term deposits (also called Fixed deposits). Where we deposit principal amt say X and rate of interest say Y %, then on maturity we get compunded interest after the deposit period of M months; Can you include this feature. I tried term account type but it does not calculate the money at end of deposit maturity period nor does it show current money amount as of today.

Can this be added to MMEX

guanlisheng commented 1 week ago

@renato-mmex , @whalley and @vomikan , thoughts?

rmkhalfay commented 1 week ago

Formula for compound interest is as per https://www.calculatorsoup.com/calculators/financial/compound-interest-calculator.php (generally quarterly compunded)