current--account--interest

sloughflint

YorkshireBoy wrote: »

On your calculator...

9
8
.
2
5
/
3
6
5
x
3
0
x
0
.
8
=

What do you see?

YB, that's unfair. Not all calculators use BIDMAS

YorkshireBoy

YB, that's unfair. Not all calculators use BIDMAS

What's BIDMAS?

sloughflint

YorkshireBoy wrote: »

What's BIDMAS?

Scientific calculators use BIDMAS ie the order of operation being
Brackets
Indices
Division
Multiplication
Addition
Subtraction
As it happens, I don't think he/she understands the concept though (the mentioning of 8760).
If the poster used a calculator that didn't use bidmas, then the answer given (without inserting brackets) might have been 0.011 ( not sure though as D and M are equivalent), otherwise 6.46.
Excel uses bidmas.

In general a quick way to measure what sort of calculator one has:
6+3*2 = 18 or 12?

If 12, then it's using BIDMAS.A non scientific would probably output 18.
Inserting brackets gets round hiccups with any calculator.

YorkshireBoy

Probably explains why I have to use a per unit figure (ie 0.0393) rather than 3.93% when using the windows calculator then.

black_taxi_2

98.25 divide by 8760=0.0112

how do you get to £6.46 from above number?

black_taxi_2

0.269178
how do you get this figure

sloughflint

black_taxi wrote: »

0.269178
how do you get this figure

YorkshireBoy wrote: »

Your monthly interest is calculated as £2,500 x 3.93% / 365 x n x 0.8

black_taxi wrote: »

98.25/365x30x0.8=0.11

black_taxi wrote: »

98.25 divided by 365 x 30 days x.8=.11

You seem quite able to calculate a percentage without help and know what / means, so how come that is so difficult for you to grasp? Stop wasting people's time.Post 10 was quite clear enough:

sloughflint wrote: »

98.25/365=0.269178 to get the daily figure
0.269178*30= 8.07 to get the monthly figure ( 30 days)
8.07*0.8=6.46 to deduct tax
(* is multiply)

even if post 7 wasn't clear enough for you.:rolleyes:

Incidentally YB, multiplication and division are on the same level so it wouldn't have mattered what type calculator was used for this calculation. It seems the tone of your post 12 was apt after all.I'm all for helping people with maths but don't appreciate people taking me ( well us) for a fool.

YorkshireBoy

sloughflint wrote: »

Incidentally YB, multiplication and division are on the same level so it wouldn't have mattered what type calculator was used for this calculation.

I knew that, and was going to mention it, but didn't want to stop you in full flow.

It's just that I'd never heard (or couldn't remember) the 'rules' being known as BIDMAS (it's a long, long time since I did my HNC!...and even longer to my O-Level maths [which I failed ])

black_taxi_2

sorry---ive come across as dumb an dumber.i appreciate your time an effort.the full arithmetic equation totaly confused me.

£2,500 x 3.93% / 365 x days in month x 0.8

£2,500 x 3.93%=£98.25

£98.25/365=0.269178 daily figure--thx

30 days=£8.07 x .8=£6.46--thx

a few more questions for you

if you use the net rate interest figure do you still apply the .8 tax?or do you always use the gross figure?

can i use the same equation to work out interest on my I.SA

only fools i take you for are motley fools

all he best

mrposhman

always use the gross rate to calculate it. It will give a slightly different answer the other way.

Use the same formula but don't bother multiplying by 0.8 for your ISA as you don't pay tax on ISA income