From: john boyle
Newsgroups: uk.finance uk.business.accountancy
Subject: Re: Barclays base lending rate history
Date: Tue, 17 Feb 2004 22:45:22 +0000
In message <3bfd27ae.0402171152.724f1e09@posting.google.com>, Harry
Slater writes
>Where would I be able to find Barcleys base lending rate history?
>
>I have to pay interest on over due sums at 4% above the base lending
>rate of Barclays Bank PLC from time to time on a daily basis.
>
Barclays base rate will follow BoE base rate.
Google found http://www.moneyworld.co.uk/glossary/gl00003.htm
>How would I calculate the correct amount to pay?
Compile a spreadsheet comprising a list of every day you owed money plus
the rate of interest for that day. Multiply the amount owed x the rate
of interest / 365, put this formula in the adjacent column. Add that
column up.
This assumes that interest is not compounded
--
John Boyle
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