Quote:
Originally Posted by punky
One thing I overlooked, the interest should be compounded as day one will be (£1000 + 9%) and then day 2 will be ((£1000 + 9%) + 9%).
Using an online calculator brings it out at £93.89 over the year and so 26p (£0.257) per day.
http://www.mw-plus.com/webdic.php?fo....00&CalcMode=1 |
I don't think I'm allowed compound interest from what I understand of the 'Late Payment of Commercial Debts (Interest) Act of 1998'