Not got excel and need to work out 8% for second letter?

[jamiebraund]

hi i've just been looking at the library section trying to get the spreadsheet for the 8% part, for my letter and i've not got excel on my computer and cant get access to it and i need to work out the interest for my bank charges as this is the second letter im sending them.

 

im crap at maths and was just wondering could anyone tell me the interest please, my charges are:

 

12th sept 20.00

13th oct 14.00

12th nov 20.00

13th dec 75.00

 

hope someone can help?

[jamiebraund]

hi i've just been looking at the library section trying to get the spreadsheet for the 8% part, for my letter and i've not got excel on my computer and cant get access to it and i need to work out the interest for my bank charges as this is the second letter im sending them.

 

im crap at maths and was just wondering could anyone tell me the interest please, my charges are:

 

12th sept 20.00

13th oct 14.00

12th nov 20.00

13th dec 75.00

 

hope someone can help?

[happydj]

12th sept 20.00

13th oct 14.00

12th nov 20.00

13th dec 75.00

 

TOTAL 129.00

 

8% = 10.32

 

TOTAL INC INT = £139.32

 

[happydj]

12th sept 20.00

13th oct 14.00

12th nov 20.00

13th dec 75.00

 

TOTAL 129.00

 

8% = 10.32

 

TOTAL INC INT = £139.32

 

[BankFodder]

I haven't checked your maths but I don't think that you understand how it works. You have to calculate the daily rate for each charge at 8% from the date at which it was imposed. You calculate the accumulated daily interest for each charge for the number of days that they have taken the money from you.

Then at the the point when they are all running together - in the example you have given here - on the 13th December, you can add up all the daily rates and then run them together as a daily rate for the total of the charges.

Make sense?

[BankFodder]

I haven't checked your maths but I don't think that you understand how it works. You have to calculate the daily rate for each charge at 8% from the date at which it was imposed. You calculate the accumulated daily interest for each charge for the number of days that they have taken the money from you.

Then at the the point when they are all running together - in the example you have given here - on the 13th December, you can add up all the daily rates and then run them together as a daily rate for the total of the charges.

Make sense?

[jamiebraund]

so if it says total charges 12th sept 20.00 (to 21st aug) i need to calculate 8% per day, so 22 days at 8% of 20.00 is that correct

[jamiebraund]

so if it says total charges 12th sept 20.00 (to 21st aug) i need to calculate 8% per day, so 22 days at 8% of 20.00 is that correct

[BankFodder]

so if it says total charges 12th sept 20.00 (to 21st aug) i need to calculate 8% per day, so 22 days at 8% of 20.00 is that correct

Sorry - i don't understand what you mean.

I barely even understand what I mean!

[BankFodder]

so if it says total charges 12th sept 20.00 (to 21st aug) i need to calculate 8% per day, so 22 days at 8% of 20.00 is that correct

Sorry - i don't understand what you mean.

I barely even understand what I mean!

[Dammam]

There are free to download Excel compatible spreadsheets that you can use if you have a broadband connection.

[Dammam]

There are free to download Excel compatible spreadsheets that you can use if you have a broadband connection.

[richardsimkiss]

bear in mind that the total interest will increase on a daily basis, you'll need to work out the amount on the day you submit your claim I believe?

 

Although it's probably only a few pence a day i'm sure it'd look better to have it spot on when going to court 8)

[richardsimkiss]

bear in mind that the total interest will increase on a daily basis, you'll need to work out the amount on the day you submit your claim I believe?

 

Although it's probably only a few pence a day i'm sure it'd look better to have it spot on when going to court 8)

[BankFodder]

bear in mind that the total interest will increase on a daily basis, you'll need to work out the amount on the day you submit your claim I believe?

 

Yes

 

If there is any doubt, then go a bit under rather than a bit over.

[BankFodder]

bear in mind that the total interest will increase on a daily basis, you'll need to work out the amount on the day you submit your claim I believe?

 

Yes

 

If there is any doubt, then go a bit under rather than a bit over.

[Bookworm]

Oh for goodness sake - go back to school, the lot of ya!!

Bloody hell!!!

 

AND deep breaths, Dave!

[Bookworm]

Oh for goodness sake - go back to school, the lot of ya!!

Bloody hell!!!

 

AND deep breaths, Dave!

[jamiebraund]

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