Interest for Transactions

Interest can be set for each transaction. This can be enabled when viewing the transaction.

Places

There are 2 types of interest.

  • Simple
  • Compound
    • Flat rate
    • Reducing Rate

The annual interest rate can be set as a percentage.

Frequency can be set as well. Default is annually.

Viewing the Schedule

The schedule for the transaction be viewed by tapping on View Schedule.

The schedule will show a graph of the projection of the amount with interest over time.

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Summary

The summary will update for the transaction as the time passes. The total interest amount will be updated.