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money/calculations/interest wizz needed please
postingalwaysposting
Posts: 13,987 Forumite
long story short... my brother used my credit card and i have given him a month before i start adding interest... but i payed this card off 
so i have all the figures but no way of knowing interest/minamum payments (as he wants to do it this way ~ he will never learn) so can you wonder wizz's please do all the calculations for me 
the amount he owes is £40
purchase interest ~ 27.9%
minamum payments 2.5% or £5 whichevers higher...
now he wants to pay £20 this friday... interest is on the 1st so what do i charge... i am glad i dont do this for a living :rotfl:
so i have all the figures but no way of knowing interest/minamum payments (as he wants to do it this way ~ he will never learn) so can you wonder wizz's please do all the calculations for me the amount he owes is £40
purchase interest ~ 27.9%
minamum payments 2.5% or £5 whichevers higher...
now he wants to pay £20 this friday... interest is on the 1st so what do i charge... i am glad i dont do this for a living :rotfl:
0
Comments
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27.9% pa is 2.07% pcm (:eek:!!)
So interest this month is 83p.
Minimum payment will be £5."Follow the money!" - Deepthroat (AKA William Mark Felt Sr - Associate Director of the FBI)
"We were born and raised in a summer haze." Adele 'Someone like you.'
"Blowing your mind, 'cause you know what you'll find, when you're looking for things in the sky." OMD 'Julia's Song'0 -
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