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Daily interest and other questions
inigma
Posts: 215 Forumite
Hello,
Ok just a couple of simple questions, that I have:
How do you calculate daily interest? I have seen a few people list this and I am not sure how to work it out.
Also
What does, "DH", "OH", "DS", "DD" mean? (I think OH is other half)
Thank you
Ok just a couple of simple questions, that I have:
How do you calculate daily interest? I have seen a few people list this and I am not sure how to work it out.
Also
What does, "DH", "OH", "DS", "DD" mean? (I think OH is other half)
Thank you
06/06/2023 mortgage mort dateJUST BRING IT
0
Comments
-
Daily interest at a given point in time is
(current mortgage balance * interest rate)/(days in year * 100)
eg for 3% interest rate on 100,000, given about 365.25 days per year, the daily rate is
(100000*3)/(36525)=8.21.
As for your second question, I always assumed they meant darling husband/son/daughter.0
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