help please

UK Discussion in 'Technical Queries' started by mckelvey, Oct 12, 2018.

  1. mckelvey

    mckelvey

    Joined:
    Oct 12, 2018
    Messages:
    1
    Likes Received:
    0
    hoping someone can help
    i invested £310k with a company @ 6% per annum
    now they owed me £18600 in interest payment and its over a year late
    the legal stuff states any penalty interest owed is at 3% above the 6% therefore 9% and its calculated on a daily basis

    how much am i owed each month or year that its late?
     
    mckelvey, Oct 12, 2018
    #1
    1. Advertisements

  2. mckelvey

    Steve-LevelUp VIP Member

    Joined:
    Jul 18, 2016
    Messages:
    308
    Likes Received:
    42
    I recommend putting together a schedule in excel showing the 6% per year, and then add a column with the days listed (day 1, day 2, etc) with a 3%/365 interest charge. This will help to identify what you are owed.
     
    Steve-LevelUp, Oct 13, 2018
    #2
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.