PPI Refund calculations

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
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lom1lom1 Forumite
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edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
Hi
I hope you can help me out and I am a tad confused as to whether the sum I have been awarded is correct.
I took a unsecured personal loan out for £2000, 9 years ago. (over 3 years) paying 80.99 per month). It was paid in full.

I have been sent a cheque for £701.76. Calculated as follows:
Refund of Premiums £355.21
Refund of Interest 76.56
Interest at 8% up until 15 February 2013 269.99
Total £701.76

Should I ask about Compound Interest? I have not cashed the cheque yet as I hope someone can make it more clearer for me.
Thanking you in advance
Lorraine

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