Calculating Interest. Assume that you have a single interest rate of 15.99%, your ADB is $2,250 and there are 30 days in the billing period.
Calculating Interest. 6.1 We calculate interest daily by multiplying the balance owing on your account by the daily percentage rate at the end of each day. The daily percentage rate is the annual percentage rate divided by 365.
6.2 If you don’t make a payment when due, you’ll also need to pay default interest on the overdue amount. Default interest is calculated by multiplying your overdue amount at the end of each day by the daily default interest rate. The daily default interest rate is the default interest rate divided by 365.
Calculating Interest. Interest shall be calculated over the daily balance. It will be reflected at the end of the period, as a total, based on a three hundred and sixty (360) day calendar year. Interest will start accruing:
a) On the date of the transaction with the Card;
b) On the date of the cash withdrawal. Interest due and unpaid shall be capitalized at MMG’s option in which case they shall accrue interest at the annual percentage rate in place by MMG.
Calculating Interest a) Consolidated payments
i. Regular purchases: No interest is calculated on regular purchases billed the first time if the balance is paid in full by the due date shown on the account sta- tement. Otherwise, interest is calculated on the average daily balance from the date on which the transaction is posted to the account statement until receipt of full payment, if payment is not made within 21 days, at the annual interest rate indicated on the account statement.
ii. Cash advances: Interest on cash advances is calculated on the average daily balance from the date the transaction is made until receipt of full payment, at the annual interest rate indicated on the account statement.
b) Individual payments
i. Regular purchases: No interest is calculated on regular purchases billed for the first time if the balance is paid in full by the due date shown on the account statement. Otherwise, interest is calculated on the average daily balance from the date on which the transaction is posted to the account statement until receipt of full payment, if payment is not made within 21 days, at the annual interest rate indicated on the account statement. However, if the balance shown on a subsequent statement is paid in full no later than the indicated due date, regular purchases not yet paid shall be exempt from interest for the period for which full payment is made.
ii. Cash advances: Interest on cash advances is calculated on the average daily balance from the date the transaction is made until receipt of full payment, at the annual interest rate indicated on the account statement.
Calculating Interest. Funds in your Savings Tab accrue interest at a variable rate of interest. Different Pockets in the Savings Tab may accrue interest at different rates. At our discretion, we may change the interest rate(s) on any Pocket at any time without notice or limit. We may also offer interest rate bonuses and other special promotions subject to terms and conditions. Current rates are set forth in Appendix A to this Agreement, ONE Account Rates and Fees. Current rates are also listed in the ONE App. We compound and credit interest to your Account on a monthly basis. We use the daily balance method to calculate that interest. The daily rate is 1/365 of the interest rate (in a leap year we may use 1/366). We apply the daily periodic rate to the collected balance in the applicable Pocket, which accrues interest each day. When you deposit into a Pocket that accrues interest, interest begins to accrue on the item on the Business Day the item posts to that Pocket. We pay interest in whole cents. If accrued interest does not equal a whole cent, it will be held until such time as it equals a whole cent and will be paid accordingly.
Calculating Interest. Interest charges (including default interest charges) are calculated daily on the Unpaid Balance of your Heartland Farm Transition Loan. We calculate interest charges based on the Annual Interest Rate and on a 365-day year, even in a leap year. The interest charges accrue daily and are debited to your account at the end of each Monthly Cycle in which they accrue. For the purpose of calculating interest charges in a period, we do not include in that period the day interest charges are debited to your account. However, we do include that day as the first day of the next period for which we calculate interest charges.
Calculating Interest. Interest for any period under this Agreement or the other Transaction Documents shall (1) include the first day of such period and exclude the last day of such period, and (2) be calculated on the basis of a 360-day year consisting of 12 months of 30 days; provided, that interest from the Closing Date until the first Repayment Date shall be paid on January 19, 2010.
Calculating Interest. We calculate the interest charge by multiplying the “average daily balance” of your Account by the monthly periodic rate of interest.
