amortizy 3.1.1 → 3.1.2

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data/CHANGELOG.md

@@ -5,6 +5,12 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+## [3.1.2] - 2026-10-21
+
+### Fixed
+- `additional_fee_treatment: :separate_payment` no longer gives the borrower an interest-free period (#13). Interest accrues from funding, so the first regular payment includes the fee period's interest, on every frequency. Precomputed interest also counts the fee period
+- Monthly loans with a separate fee now put payment 1 one month after the fee instead of on the fee date, matching the other frequencies. These loans now mature one month later (e.g. `term_months: 12` ends in month 13)
+
 ## [3.1.1] - 2026-10-21
 
 ### Fixed

data/README.md

@@ -236,7 +236,7 @@ The fee is added to the loan principal upfront, increasing the base amount finan
 **Best for:** Rolling all costs into the loan amount
 
 ### 3. Separate Payment (`:separate_payment`)
-The fee is collected as a separate payment (`payment_number: 0`) one period after the start, before regular amortization begins.
+The fee is collected as a separate payment (`payment_number: 0`) one period after the start. Regular payments begin one period after the fee. Interest accrues from funding, so the first regular payment carries the interest for the fee's period as well as its own, and the loan matures one period after `term_months`.
 
 **Best for:** Collecting fees upfront separately from the loan repayment
 

data/lib/amortizy/engine.rb

@@ -225,10 +225,10 @@ module Amortizy
       total_days.to_f / sample_size
     end
 
+    # A separate fee row takes a period of its own, and interest accrues through it.
     def estimate_total_loan_days
-      num = total_payments
-      avg_days_per_period = calculate_average_days_per_period
-      num * avg_days_per_period
+      periods = total_payments + (separate_fee_payment? ? 1 : 0)
+      periods * calculate_average_days_per_period
     end
 
     def calculate_precomputed_total_interest
@@ -313,8 +313,11 @@ module Amortizy
       ((effective_principal * growth) - @balloon_amount) / payments_value
     end
 
+    # Interest accrues from funding (or the end of the grace period). A separate
+    # fee row collects no interest, so the first regular payment carries the
+    # interest for the fee's period too.
     def amortizing_period_rates
-      previous_date = first_regular_period_start
+      previous_date = first_payment_date
       rates = regular_payment_dates.map do |date|
         rate = (@annual_rate / 365.0) * calculate_days_between(previous_date, date)
         previous_date = date
@@ -339,7 +342,9 @@ module Amortizy
     # payment date to prevent bank-day adjustments from compounding drift.
     def regular_payment_dates
       @regular_payment_dates ||= begin
-        monthly_target = first_payment_date
+        # A separate fee takes the first period, so regular payments start a
+        # month after the fee's (unadjusted) target date.
+        monthly_target = separate_fee_payment? ? advance_by_month(first_payment_date) : first_payment_date
         previous_date = first_regular_period_start
         Array.new(total_payments) do
           if @frequency == :monthly
@@ -442,7 +447,6 @@ module Amortizy
           payment_type: 'Additional Fee Payment',
           days_in_period: 0
         }
-        previous_payment_date = payment_date
       end
 
       additional_fee_per_payment = @additional_fee_treatment == :distributed ? (@additional_fee / num) : 0.0

data/lib/amortizy/version.rb

@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 module Amortizy
-  VERSION = '3.1.1'
+  VERSION = '3.1.2'
 end

metadata

@@ -1,7 +1,7 @@
 --- !ruby/object:Gem::Specification
 name: amortizy
 version: !ruby/object:Gem::Version
-  version: 3.1.1
+  version: 3.1.2
 platform: ruby
 authors:
 - Rich Zapata