Confused about interest earned....

Oblivion

Anyone fancy an evening down the pub? I'm shore there is shome mishtake here and after a few pynts of ail wee can sort this art to everyblodyies satisflaction hic. I'm not as thunk as drinkle peep I am ya know ... hic.

sloughflint

Essenchill wrote: »

I guess I will just have to see what happens at the end of this month...

You can't do that to us:mad:.
I was trying to be discreet but is YB's start of May value correct or have you withdrawn a bit more?

Essenchill

sloughtflint - the figures I gave for April, May and June were not the actual interest earned but the 'final bit' i.e. the bit that differed on the interest earned.
I don't really want to publish my savings account details on the internet and maybe I'm a fool for thinking I can get this worked out without doing so.

I'm frustrated now that I thought it was right! And there are no more snippets to add you will be pleased to hear. Interest was paid at the end of March. Money was withdrawn at the start of April (ISA). In the middle of April just under a third of that amount withdrawn was paid back into the account. No activity on the account since except for interest payments on the last day of each month.

I'm with Oblivion in the pub if anyone needs me!

sloughflint

Essenchill wrote: »

sloughtflint - the figures I gave for April, May and June were not the actual interest earned but the 'final bit' i.e. the bit that differed on the interest earned.

Ok, you did not make that bit clear. I think everyone here assumed it was interest.

I can understand you not wanting to publish details.
Ok, here's what you need to do:
Take your starting figure in May (A) and do the following:
Ax6.31x0.8x31/36500
That should give you the interest at the end of May. Check that's correct first.

Now take the starting balance on 1st June (B) and do this:
Bx6.31x0.8x30/36500.
If it's not what KE say, you'll need to call them. Good luck.

Essenchill

Thanks, sorry I didn't make it clear that it wasn't the actual interest earned, I went for the 'basically' statement way too subtely!

Thanks so much for your patience and help, and I will now do a calculation based on your instructions... Thank you. I so wish I could do maths!

Formula for June - should that be Bx6.31x0.8x30/36500 ?

sloughflint

Essenchill wrote: »

Thanks, sorry I didn't make it clear that it wasn't the actual interest earned, I went for the 'basically' statement way too subtely!

Thanks so much for your patience and help, and I will now do a calculation based on your instructions... Thank you. I so wish I could do maths!

Except wait a bit. I should have put 30 for June. Will amend

sloughflint

Oh you saw it!!!! lol.
What is this thread like? Prize for the most surreal?

LucyTheDwarf

It'd definitely win that. And prize for the most head scratching done ever. It should be so simple! *headache*

To think, that there are quite a few people who have spent quite a bit of time over the last few days thinking this over.... I love the internet.

Essenchill

I seriously hope I've not increased anyones baldness... I thought I was missing something really simple. I guess I wasn't. Or I could be. Sorry everyone!

LucyTheDwarf

Don't be sorry! You're exercising our grey matter! We'll all have the mental agility of teenagers, right 'til we're 100 years old.