Calculation of Interest Charges. Any credit or debit balance in the cash account will be combined with the balance in the margin account for the purpose of computing interest. The interest charged to Your account is calculated by multiplying any net debit balance each day by the applicable interest rate. A credit balance in any short account will not reduce the average daily debit balance in Your margin account because such credit balances are normally used to collateralize the borrowing of stock to make delivery against the short sale. However, short sale positions will be marked to the market daily and such changes resulting therefrom will affect the debit balance in Your margin account. Therefore, if such change results in a credit, such credit will be transferred to Your margin account as a credit; and conversely, if such change results in a debit, such debit will be transferred as a debit to Your margin account.
Calculation of Interest Charges. Interest is charged on your net daily adjusted debit balance. The net daily adjusted debit balance is determined by combining all your accounts and excluding credits resulting from short sales and any bal- ances in income accounts. Short positions will be “marked to the market” periodically, and any resulting appreciation in the market price over the selling price will increase the debit balance in your Account and any decrease in the market price from the selling price will decrease the debit balance. Interest will normally be computed from the second to last day of the preceding month through the third to the last day of the current month. These periods coincide with Stifel’s monthly closing date, which is normally the last day of the month. Months ending on a Saturday or Sunday are considered to have ended on Friday. Months ending on a Monday are computed through the last Thursday. If there is an interest rate change during the month, separate charges will be made for each portion of the month during which different rates were effective. Interest is charged monthly and from the date of the last rate change, if any, to the debit balance in your Account. You agree that if monthly interest charges are not paid, such charges are added to your debit balance, and interest will be charged on the new debit balance in future months. The actual interest calculations are performed according to the following formula: No. of Days Adjusted Daily x Interest x in Int. Period = Interest Debit Balance Rate 360 Charge
Calculation of Interest Charges. The total amount of interest charges for a billing period will be calculated as follows: (1) Regular Plan - We calculate the interest charge on your account by applying the periodic rate to the Average Daily Balance of your account (including new transactions). To get the Average Daily Balance we take the beginning balance of your Regular Plan account each day, add any new purchases and fees and subtract any payments or credits. This gives us the daily balance (any unpaid interest charges incurred during that billing period are not included in the daily balance). Then we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the “Average Daily Balance,” which is also called the “Balance Subject to Interest Rate” on your monthly statement. (2) Promotional Plans - We calculate the interest charge on your account by applying the periodic rate to each Promotional Plan Average Daily Balance. These are special promotional transaction balances on which interest charges are accruing but will be waived provided (i) the balance for the Promotional Plan is paid in full by the Promotion Expiration Date as specified on the front of your billing statement, and (ii) you do not default, by failing to make any Minimum Payment Due by 60 days from the due date shown on your billing statement, before the Promotional Plan has been paid in full. Promotional Plans with different promotional expiration dates or terms are treated as different Credit Plans for this purpose. To get the Promotional Plan Average Daily Balance, we take the beginning balance of each Promotional Plan account each day and subtract any payments or credits applicable to that Plan. This gives us the daily balance. Then we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us each Promotional Plan Average Daily Balance, which is also called the “Deferred Interest Balance” on your monthly statement. (3) The sum of the amounts determined under (1) and (2) above is your interest charge on purchases. The deferred interest charge, if any, determined under (2) above is accumulated from billing cycle to billing cycle and posted to your Account as interest charges only if the applicable Promotional Plan has not been paid in full by the Promotion Expiration Date or if you default, by failing to make any Minimum Payment Due by 60 days from the due date shown on your bi...
Calculation of Interest Charges. We calculate your APR for Purchases, Balance Transfers, and Cash Advances by adding 3.74%, an amount which we call the Margin, to the Prime. Even if the Margin and Prime could be higher, the rate on any transaction type will not exceed 24.99% APR. Purchases, Balance Transfers, and Cash Advances made on your Account will be subject to an INTEREST CHARGE at a Daily Periodic Rate of 0.03353%, which corresponds to an ANNUAL PERCENTAGE RATE (APR) of 12.24%.
Calculation of Interest Charges. (a) Variable APRs Based on the Prime Rate. The Monthly Periodic Rate for Purchases and Cash Advances is a variable rate that may change monthly. The Monthly Periodic Rate will be 1/12th of the sum of an “Index” plus a Margin. The Index is the highest domestic Prime Rate published in the ”Money Rates” section of The Wall Street Journal (eastern edition) on the 15th day (or preceding business day, if the 15th is not a business day) of the calendar month immediately prior to the month in which the Billing Cycle begins. An increase in the Prime Rate will take effect on the first day of the Billing Cycle. An increase in the Prime Rate will increase the amount of your interest charge, New Balance, and Total Minimum Payment Due. The Margin is 21.74% for Cash Advances. The Margin for Purchases is 12.24%.
Calculation of Interest Charges. Daily Interest Rates and Annual Percentage Rates may be found on the RatesandFeesTable. Periodic Interest Charge Calculation—Daily balance method (Including current transactions): We calculate the interest charge on your account by applying the periodic rate to the “daily balance” of your account for each day in the billing cycle. To get the “daily balance” we take the beginning balance of your account each day, add any new purchases/ cash advances/fees, and subtract any unpaid interest or other finance charges and any payments or credits. This gives us the daily balance.
Calculation of Interest Charges. You calculate interest charges on my Debt monthly using the Average Daily Balance method. The calculation is done as follows: at the end of each billing period, you calculate interest charges separately for each category of transactions that makes up my balance (i.e., Purchases and Cash Advances) (each, a “category”) as each category is subject to interest charges at a different percentage rate of interest charges (annual interest rate and other charges), as set out in the Disclosure Statement. For each category, you determine (i) the “Average Daily Balance” of all transactions and charges in that category for the period covered by the Account Statement and (ii) the “daily interest rate” for that category for the period covered by the Account Statement. You then multiply the Average Daily Balance for each category by the daily interest rate for that category, and then by the number of days in the period covered by the Account Statement, and you then add this amount to my balance for each category. You determine the “Average Daily Balance” for a particular category by adding together the balances for that category for each day during the period covered by the Account Statement and then dividing that sum by the number of days in the period covered by the Account Statement. You determine the “daily interest rate” for a particular category by dividing the applicable interest rate for the category by 365 (in a regular year) or 366 (in a leap year).
Calculation of Interest Charges. 5.1. We will calculate interest on Your loan daily, by multiplying the unpaid daily balance of the account (which includes but is not limited to the loan amount, fees and charges and insurance premiums if applicable) starting on the Loan Date and based on the Money Owing on Your loan. The interest rate applied each day is equal to the annual percentage rate applicable to the loan at the time (as stipulated in the attached Schedule) divided by 365 or the number of number of days in that calendar year.
Calculation of Interest Charges. Any language herein to the contrary notwithstanding, all interest charges will be calculated based on a year of three hundred and sixty (360) days. Interest (finance charges) calculated for portions of a year will be calculated on a formula using 365 as the numerator and 360 as the denominator (i.e., 365/360).
Calculation of Interest Charges. The Annual Periodic Rate for Purchases is a fixed rate of 15.99%. Quin reserves the right to change the interest rate but will provide at least 45 days’ notice of any change in the interest rate. Balance Subject to Interest Rate. We use a method called ‘average daily balance method (including current transactions) to calculate interest charges. Interest charges on Purchases are calculated by applying the annual periodic rate to the average daily balance of Purchases (including new Purchases) for each billing cycle. To calculate the average daily balance of Purchases, we take the beginning balance of your account each day, add any new Purchases, and subtract any applicable fees, unpaid interest, payments, and credits. This gives us the daily balance. We treat any daily balance that is a credit balance as a daily balance of zero. We add up all the daily balances for the billing cycle and divide by the number of days in the billing cycle to determine average daily balance. How to Avoid Paying Interest on New Purchases. If you pay the New Balance on your prior monthly billing statement by the due date shown on that billing statement, or within 10 days after your due date (grace period), we will not impose any interest charges on new Purchases, or any portion of a new Purchase. New Purchases are Purchases that first appear on your current billing statement.
