Common use of Calculating Interest Charges Clause in Contracts

Calculating Interest Charges. We calculate interest charges for a Billing Cycle by multiplying the Balance Subject to Interest Rate for each category of transactions by its applicable monthly periodic rate. The total interest charged for a Billing Cycle is the sum of the interest charged for each Balance Subject to Interest Rate.

Calculating Interest Charges. We calculate interest charges for a Billing Cycle by multiplying the “Balance Subject to Interest Rate Rate” (as described below) for each category of transactions Transactions by its applicable monthly periodic rate. The total interest charged for a Billing Cycle is the sum of the interest charged for each Balance Subject to Interest Rate.