Maintenance calculations - rate of inflation help please

Dear all, I hope you can help. My Exh has been court ordered to pay maintenance every month for the past two years. Every july the figure increases in accordance with rate of inflation (either IPR or RPI I am confused which, as I know RPI is retail price index.) I cannot afford a solicitor again to go and chase the new increase and need to email ExH the new figures. Last year I came up with a figure of 2 point something increase but solicitor said it was 3.7% per cent. Solicitor calculated the amount on the £400.00PCM to a new increase of £449.37. I don't know how to find the new figure because I can only find figures in the 2 point something numbers. Then I found a figure stating 4.0 %. I would also need help working out what that would mean in terms of an increase - ie what is the final monthly figure on an XX per cent increase on £449.37 please? Or how do I work out 4.0% increase on £449.37 or do I calculate against the total of 12 months then divide it again? Any help would be really appreciated. Thank you.

Comments

This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards