the place your food comes from- IOWA |
Lets say someone owes you an outstanding bill.
Balance on Sept 1 = $ 1,000.00
The Int rate = 21 %
They make a $250 dollar payment on the 15th
9/1 $ 1000.00
9/15 Int $8.05
9/15 POA $ 250.00
New Blc = $ 758.05
10/15 $ 758.05
10/15 Int $ 13.08
10/15 balance = $ 771.13
Or would the above be considered compounding ?
Is there an EZ program out there to track if one had many accouunts ??
TIA
Wasn't sure where to post , Cafe didn't seem Right |
Simple interest help
