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Help Needed - Interest Rates
Miss_314
Posts: 35 Forumite
in Credit cards
I need help. I'm trying to work out what the probable balances are on a credit card for cash & purchases from the interest. I managed to do this before but didn't write down my method and I can't remember how to do it now 
No doubt my brain is just clogged with stress at the moment and it'll all come back to me after posting this, but if anybody is better at math than I am right now, I'd appreciate the help.
Going off an old statement....
Opening Balance ... £1,989.66
Payment Received.. £44.38
Interest charged this month =
Cash @ 0.066% Per Day (26.75% pa) = 28.87
Purchases @ 0.046% Per Day (17.95 pa) = 6.78
New Balance = £1980.93
So basically, from this can anybody give me a good guess at what the cash balance would be and what the purchases balance would be?
Thanks in advance. I seem to be really dense today.
No doubt my brain is just clogged with stress at the moment and it'll all come back to me after posting this, but if anybody is better at math than I am right now, I'd appreciate the help.
Going off an old statement....
Opening Balance ... £1,989.66
Payment Received.. £44.38
Interest charged this month =
Cash @ 0.066% Per Day (26.75% pa) = 28.87
Purchases @ 0.046% Per Day (17.95 pa) = 6.78
New Balance = £1980.93
So basically, from this can anybody give me a good guess at what the cash balance would be and what the purchases balance would be?
Thanks in advance. I seem to be really dense today.
0
Comments
-
Somewhere in the order of a 75/25 split in favour of cash. So...
£1,480 for cash, and
£500 for purchases0
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