Jump to content


How to calculate the 8% ?


martynh99
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 6475 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

I've had a look at 3 sources of how to calculate the 8% and all give differing figures.

http://www.cag-files.co.uk/barracad/Spreadsheets/England/Simple-charges-calc.xls

 

Detail Amount Date Days Interest

Charges £25.00 01/01/2003 1329 £7.31

 

http://www.cag-files.co.uk/barracad/Spreadsheets/England/Complex-credit-card-charges-calc.xls

DATE Amount 8% INTEREST 8% ON INTEREST

ON PENALTIES ON PENALTIES

01/01/2003 £25.00 £7.28 £1.32 £0.39

 

http://www.consumeractiongroup.co.uk/chargeinterest.php

Date Incurred Amount Incurred Interest Days Amount Owed

1/1/2003 £25 £6.64 1329 £31.64

 

 

 

The difference between the 2 spreadsheets is only 3p but the online calculator is a difference of 64p

 

Which one is correct ???

Link to post
Share on other sites

I put together a spreadsheet to work out how much interest would be due if I were to charge the CC company at their rates.

During the account period, the rates were

0% Opening to 27/7/3

14.9% 27/7/3 - 27/2/5

15.9% 27/2/5 - 27/7/5

18.9% 27/7/5 - current

This adds over £220 to the amount - am I able to claim this ? It would seem fair to me. cc.jpg

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...