[implemented] Automatic repayment of loans

Post by **gyboth** » Wed Oct 29, 2008 10:08 am

The user should have an option to set up automatic repayment of a loan.

Example:

Week 1: user takes out a loan about 500K
Week 5: user decides that he's got enough income to start repaying the loan in 50K batches and sets up repayment schedule accordingly
Weeks 6-15: loan gets repaid in 50K batches

I don't recall if there's an interest for loans (I think there isn't). If not, it'd be nice to make the whole concept more realistic by adding interest rates, preferably fluctuating so that the user has to take care when to take out a loan and when to avoid it.

Gyözö[/list]

Post by **gyboth** » Wed Oct 29, 2008 10:14 am

The fluctuating interest rates could be done by a nice one dimensional random walk.. yay! (Which converges to Brownian motion with shrinking lattice, IIRC

).

Post by **gunnar** » Wed Oct 29, 2008 1:31 pm

aren't the pay-off dates set when signing the contract? I thought it was never the client's choice when to pay-off. Unless you pass by other individuals than the bank

Post by **gyboth** » Wed Oct 29, 2008 1:51 pm

As far as I know (haven't started the game for ages) there's only a limit date, until which you have to repay. And if you pay back part of the loan earlier, the date gets extended.

Automatic repay would have to observe some kind of date limit, too, obviously, for instance the current "loan date + 15 weeks" (which is why I picked the example I did above).

Gyözö