citifinancial settlement figure - is this correct????

lavamyz

Hi there!

I took out a loan with citifinancial some time ago, the details of which are;

Date of advance : 2/11/2007
Amount : 8218.00
Term : 60 months
interest Rate : 25.66% (interest calculated on a daily basis)

I want to settle the loan and the settlement figure i've received is;

Date : 14th November 2011
Balance of interest and principal : 2932.68
Interest rebate : 245.55
Balance less interest : 2687.13

now by a coincidence i received an annual statement on the 12th which stated;

Opening Balance : 4572.21
Credits : 2954.68
Interest Paid : 943.52
Interest Accrued : 942.10
Closing Balance : 2581.63

Now here's my question, i want to settle the agreement, and while i understand that there are rules in calculating settlement rebates, if interest is calculated daily then surely the settlement figure would be at or very near the current balance of 2581.63?

All i want to know is, is this settlement figure correct? i've plugged the figures into a few websites and arrive at different figures. if its correct then i'll pay it (saving a measly 240 quid but a saving is a saving)

thanks

leighton