intrest calculated per day

wellsy07

OK i'm getting my head round the intrest and would just
Like a idiot proof description

Standand rate 18.9%apr
With a balance after a 0% rate end of 220

What will the monthly intest be as I remember it being a few quid but
Others have filled me with doubt that its going to be pounds per day

Any Freindly civil advice answers welcome!

YorkshireBoy

£220 x 1.4531% = £3.20


Where 1.4531% is the monthly rate for an 18.9% APR product.

CLAPTON

if you are asking how much interest per day you pay on a debt of £220 at 18.9% APR

then approximately it will be 220 x 18.9%/365 = 11 pence per day

wellsy07

Thank you both for the speedy answers!
Perfectly cleared up and exactly the assurance for my
Calculating of which money to keep. Where, and priorotise

Cheers