How do the big banks calculate daily interest?
For an interest rate of x% annually, do they just divide that by the number of days in the year(365 in a normal year)?
Or do they divide that by the number of months in the year (12) and then by the number of days in the average month (30)?
The later give a marginally higher daily interest rate, so I would assume they use that one.
The reason I ask is that I’m trying to figure out how much I will owe in interest on my line of credit at the end of the month. It is supposedly calculated daily. I though I would just calculate the daily interest rate, multiply by the balance at the end of the day and they add all those up. I’m always off by a few cents. Rounding?
I know this is nitpicking, but I’d really like to know why I’m off.
Comments please….
Union must be part of auto sector rescue
Talk about the two biggest dinosaurs around. The auto industry and unions in general.
“Clement is due to visit the Washington and Detroit soon for talks on how to handle the auto sector’s woes.”
I can tell you how to handle your woes. Instead of focussing on milking as much out of short term profits as you can, get your head out of your a$$ and make some innovative products that the consumer wants. If you had done this 10 years ago you wouldn’t be having the problems you have. A little pain now will mean a better future for all involved.
(Via Reuters.)
Previously I sent some e-mail to all the local TV broadcasters asking about there OTA plans.
It’s been over a week and I have heard nothing. Not even a peep to acknowledge that they got my question. That’s great customer service for you isn’t it? You wonder why broadcast TV is going down the toilet.
A good piece on the state of the auto industry from the New York Times
Best quote:
“Lastly, somebody ought to call Steve Jobs, who doesn’t need to be bribed to do innovation, and ask him if he’d like to do national service and run a car company for a year. I’d bet it wouldn’t take him much longer than that to come up with the G.M. iCar.”
Every industry needs a “Steve Jobs”.
I agree with most of what he said, except drop all the crap about Flex Fuel. All that does is make people feel like they are doing something when in reality they are just creating other problems.
Wouldn’t Apple’s MobileMe service becoming an OpenID provider be good selling feature?
Thoughts? Comments? Ideas?
Although I didn’t see this coming this quickly, I knew the firing Doug Berry was more then likely inevitable.
I was listening to it on the news on the way back to work and Lyle Bauer was quoted as saying they expect to have a new coach in place with in two weeks. That got me wondering if it had anything to do with Don Matthews resigning recently from Toronto. I doubt it, but if it does happen you heard it here first!
Is it just me or would del.icio.us and url shortening (ala bit.ly or tinyurl.com) be a great fit? Did I just miss this feature at del.icio.us?
Do I get a finders fee?
Another thing I want to do in ditching my cable TV is to find out if I can pick up local stations digitally OTA (Over The Air). I’ve sent emails to all the local TV stations(CBC, CTV, Global and City) asking what formats, channels, etc they broadcast on. If they do not I’ve also asked what their plans are for the future in this respect. Stay tuned for the results as I get them.
I know it’s not really the season for it, but I think I’ve finally perfected my home-made iced tea.
8 cups of water
3 orange pekoe tea bags
1/2 cup of sugar
1/4 cup of fresh lemon juice (approximately 1 lemon)
Boil the Water and add tea bags. Let steep for 30 minutes. Remove tea bags (duh!). Add sugar and lemon juice while still warm. Strain the juice unless you want pulp and seeds in your glass. Stir and refrigerate. Serve chilled.
Let me know how you like it.
yum.