GeneralZod
Registered User
- Messages
- 1,198
Details:
Balance on Friday 28th Sept after interest payment €14,979.69
Lodgement on 2nd Oct of €20.31 bringing balance to €15,000.00
Withdrawal on 26th Oct of €60.00 to ensure bal below €15k €14,940.00
Nett Interest payment after 20% DIRT deducted on 31st Oct of €48.58 €14,988.58
FA say the account has an AER of 5.22% or a gross figure of 5.1%. These figures are internally consistent using the of AER where interest is paid n times per year (formula d).
The FA website says the interest is calculated daily and paid monthly. There were 33 days between Sept 28th and Oct 31st.
Therefore the interest payment for the period should have been at least €55.11 = €14,940 * (0.051/365 days) * 0.8 * 33 days
Before I complain to FA can anyone see an error in these calculations.
Balance on Friday 28th Sept after interest payment €14,979.69
Lodgement on 2nd Oct of €20.31 bringing balance to €15,000.00
Withdrawal on 26th Oct of €60.00 to ensure bal below €15k €14,940.00
Nett Interest payment after 20% DIRT deducted on 31st Oct of €48.58 €14,988.58
FA say the account has an AER of 5.22% or a gross figure of 5.1%. These figures are internally consistent using the of AER where interest is paid n times per year (formula d).
The FA website says the interest is calculated daily and paid monthly. There were 33 days between Sept 28th and Oct 31st.
Therefore the interest payment for the period should have been at least €55.11 = €14,940 * (0.051/365 days) * 0.8 * 33 days
Before I complain to FA can anyone see an error in these calculations.