How do you calculate daily interest?
19 May 2004, 08:55 AM
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How do you calculate daily interest?
So i am owed £35,000 which is now supposedly earning daily interest while being held by solicitor.
How do i calculate the interest and where would i find the rate they would use, ie, is it a typical savings rate.
How do i calculate the interest and where would i find the rate they would use, ie, is it a typical savings rate.
19 May 2004, 08:59 AM
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The best rate you could hope for is around 4.25%, which is £35x4.25%/365 = about £4 a day(Amount X annual rate X Number of days all divided by days in a year). Doesn't even cover a gallon of petrol these days LOL
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