Daily interest and other questions

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
Original mortgage free date 01/09/2036Current mortgage free date 01/09/2023Dream mortgage free date 27/08/2023 (25 years to the day I failed my GCSEs!)JUST BRING IT

Replies

  • SillySodSillySod Forumite
    68 Posts
    Forumite
    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.
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