What Is The Monthly Compound Interest On 304,000.00 At 12% For 1.25 Years?
I need to send a bill to collect a debt. My lawyer says I can collect 12% compound interest for the last 1.25 years beginning with a principal of $304,942.90. Can you please give me an answer.
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asked 2 years ago
1 Answer - Sort by: Date | Rating
If the rate is 12% for 1.25 years, it becomes 9.6% for one year. So if you want calculations, you should compound it on 9.6% of 304,000 which gives the value of $29,184.
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