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Interest Calculation wrong on Spreadsheet


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Hi folks can someone help please. I have another claim with RBOS (think there are 7 on the go at present!)

 

Just filled in the simple calc spreadsheet for Scottish users and my claim which was £1300 calculates interest at something stupid like £16k, now the charges are around 10 yrs old but even I know there is something wrong here.

 

Can anyone give me a step for a hint on where I have gone wrong?

 

Thanks in advance

9/8 - Discovered Consumer Action Group Site:D

 

RBOS - Personal Account

10/8 - S.A.R - (Subject Access Request) to RBOS

17/5 - Defence lodged by RBS

24/5 - Court date

21/5 - Offer received:rolleyes:

22/5 - Offer rejected

25/5 - New offer received and accepted!!!!!!

 

MBNA Credit Card

10/8 - S.A.R - (Subject Access Request) to MBNA

Feb 07 Received payment in full...Yeh!!!!:-D

 

RBOS Business Account

25/5 - May 07 - Statements received

23/7 - Offered received

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If you take the figure (% interest) as shown on your statement eg. 22.44% per year divide it by 365 gives you the daily % multiply by by the number of days each item was outstanding. EG. 22.44 divided by 365 =.0614 ( remember that is a%) take the cost or should I say charge eg £ 30 multiply £30 by .0614%= 0.0184 multiply that figure by the number of days and add up at ther end of the spread sheet. Hope you can understand the above. If I can be of help let me know:)

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