Thread: Calculating Accrued Interest

Hi,

I need to show my working for the interest accrued of £14,136.99 on the below account statement for November.

I have tried many ways but i can't figure out how the amount is derived. I have tried several methods i.e. compound interest, working out individual days, but seem to have have no luck.

Any happy is much appreciated:

The average owing daily:
(1*20100000 + 15*24800000 + 8*22400000 + 4*13800000 + 1*11000000 + 1*7500000) / 30 = 21500000

21500000 * .008/365*30 = 14136.9863