Calculation of Interest Charges. Any credit or debit balance in the cash account will be combined with the balance in the margin account for the purpose of computing interest. The interest charged to Your account is calculated by multiplying any net debit balance each day by the applicable interest rate. A credit balance in any short account will not reduce the average daily debit balance in Your margin account because such credit balances are normally used to collateralize the borrowing of stock to make delivery against the short sale. However, short sale positions will be marked to the market daily and such changes resulting therefrom will affect the debit balance in Your margin account. Therefore, if such change results in a credit, such credit will be transferred to Your margin account as a credit; and conversely, if such change results in a debit, such debit will be transferred as a debit to Your margin account.
Calculation of Interest Charges. Interest is charged on your net daily adjusted debit balance. The net daily adjusted debit balance is determined by combining all your accounts and excluding credits resulting from short sales and any bal- ances in income accounts. Short positions will be “marked to the market” periodically, and any resulting appreciation in the market price over the selling price will increase the debit balance in your Account and any decrease in the market price from the selling price will decrease the debit balance. Interest will normally be computed from the second to last day of the preceding month through the third to the last day of the current month. These periods coincide with Stifel’s monthly closing date, which is normally the last day of the month. Months ending on a Saturday or Sunday are considered to have ended on Friday. Months ending on a Monday are computed through the last Thursday. If there is an interest rate change during the month, separate charges will be made for each portion of the month during which different rates were effective. Interest is charged monthly and from the date of the last rate change, if any, to the debit balance in your Account. You agree that if monthly interest charges are not paid, such charges are added to your debit balance, and interest will be charged on the new debit balance in future months. The actual interest calculations are performed according to the following formula: No. of Days Adjusted Daily x Interest x in Int. Period = Interest Debit Balance Rate 360 Charge
Calculation of Interest Charges. If payment in full for the entire New Balance shown on your Statement for the previous billing cycle was received by us by the Payment Due Date of that Statement we do not assess periodic Interest Charges on the Purchase portion of your Account balance. Periodic Interest Charges are imposed on Purchases when the New Balance shown on the previous Statement is not paid in full within 25 days of the Statement Closing Date as indicated on the Statement as Payment Due Date. However, Interest Charges will be assessed and will accrue on any Advance portion of your balance from the date that such Advance is posted to your Account until the date the Advance balance is paid in full or the Statement Closing Date whichever comes first, even if payment of the entire New Balance is received by us by the Payment Due Date. In other words, there is no time period within which credit extended to you by an Advance may be repaid without incurring Interest Charges. Interest Charges for each monthly billing cycle will be calculated by multiplying the Average Daily Balance of Purchases by the Monthly Periodic Rate and multiplying the Average Daily Balance of Advances by the Monthly Periodic Rate. We will calculate your Average Daily Balance of Purchases by taking the outstanding Purchase balance (amount you owe) at the start of the day and add all new purchases and debit transactions and subtract credits and payments as described in this Agreement as well as Late Charges and Interest Charges that remain unpaid. The result is the daily balance of Purchases for that day. We add together all the daily balances for each day in the billing cycle and divide the total by the number of days in the billing cycle. The result is the Average Daily Balance of Purchases for that billing cycle. We will calculate your Average Daily Balance of Advances by taking the beginning Cash Advance balance each day, add any new Advance or Advance debit transaction and subtract credits and payments as described in this Agreement as well as Late Charges and Interest Charges that remain unpaid. The result is the daily balance of Advances for that day. We add together all the daily balances of Advances for each day in the billing cycle and divide the total by the number of days in the billing cycle. This result is the Average Daily Balance of Cash Advances. This determines your total Interest for the billing cycle. The actual period Interest Charges will be shown on your Statement. You will be charged Interes...
Calculation of Interest Charges. You calculate interest charges on my Debt monthly using the Average Daily Balance method. The calculation is done as follows: at the end of each billing period, you calculate interest charges separately for each category of transactions that makes up my balance (i.e., Purchases and Cash Advances) (each, a “category”) as each category is subject to interest charges at a different percentage rate of interest charges (annual interest rate and other charges), as set out in the Disclosure Statement. For each category, you determine (i) the “Average Daily Balance” of all transactions and charges in that category for the period covered by the Account Statement and (ii) the “daily interest rate” for that category for the period covered by the Account Statement. You then multiply the Average Daily Balance for each category by the daily interest rate for that category, and then by the number of days in the period covered by the Account Statement, and you then add this amount to my balance for each category. You determine the “Average Daily Balance” for a particular category by adding together the balances for that category for each day during the period covered by the Account Statement and then dividing that sum by the number of days in the period covered by the Account Statement. You determine the “daily interest rate” for a particular category by dividing the applicable interest rate for the category by 365 (in a regular year) or 366 (in a leap year).
Calculation of Interest Charges. (a) Variable APRs Based on the Prime Rate. The Monthly Periodic Rate for Purchases and Cash Advances is a variable rate that may change monthly. The Monthly Periodic Rate will be 1/12th of the sum of an “Index” plus a Margin. The Index is the highest domestic Prime Rate published in the ”Money Rates” section of The Wall Street Journal (eastern edition) on the 15th day (or preceding business day, if the 15th is not a business day) of the calendar month immediately prior to the month in which the Billing Cycle begins. An increase in the Prime Rate will take effect on the first day of the Billing Cycle. An increase in the Prime Rate will increase the amount of your interest charge, New Balance, and Total Minimum Payment Due. The Margin is 21.74% for Cash Advances. The Margin for Purchases is 12.24%.
Calculation of Interest Charges. Daily Interest Rates and Annual Percentage Rates may be found on the RatesandFeesTable. Periodic Interest Charge Calculation—Daily balance method (Including current transactions): We calculate the interest charge on your account by applying the periodic rate to the “daily balance” of your account for each day in the billing cycle. To get the “daily balance” we take the beginning balance of your account each day, add any new purchases/ cash advances/fees, and subtract any unpaid interest or other finance charges and any payments or credits. This gives us the daily balance.
Calculation of Interest Charges. We calculate your APR for Purchases, Balance Transfers, and Cash Advances by adding 5.74%, an amount which we call the Margin, to the Prime. Even if the Margin and Prime could be higher, the rate on any transaction type will not exceed 24.99% APR. Purchases, Balance Transfers, and Cash Advances made on your Account will be subject to an INTEREST CHARGE at a Daily Periodic Rate of 0.03901%, which corresponds to an ANNUAL PERCENTAGE RATE (APR) of 14.24%.
Calculation of Interest Charges. Any language herein to the contrary notwithstanding, all interest charges will be calculated based on a year of three hundred and sixty (360) days. Interest (finance charges) calculated for portions of a year will be calculated on a formula using 365 as the numerator and 360 as the denominator (i.e., 365/360).
Calculation of Interest Charges. The Annual Periodic Rate for Purchases is a fixed rate of 15.99%. Quin reserves the right to change the interest rate but will provide at least 45 days’ notice of any change in the interest rate. Balance Subject to Interest Rate. We use a method called ‘average daily balance method (including current transactions) to calculate interest charges. Interest charges on Purchases are calculated by applying the annual periodic rate to the average daily balance of Purchases (including new Purchases) for each billing cycle. To calculate the average daily balance of Purchases, we take the beginning balance of your account each day, add any new Purchases, and subtract any applicable fees, unpaid interest, payments, and credits. This gives us the daily balance. We treat any daily balance that is a credit balance as a daily balance of zero. We add up all the daily balances for the billing cycle and divide by the number of days in the billing cycle to determine average daily balance. How to Avoid Paying Interest on New Purchases. If you pay the New Balance on your prior monthly billing statement by the due date shown on that billing statement, or within 10 days after your due date (grace period), we will not impose any interest charges on new Purchases, or any portion of a new Purchase. New Purchases are Purchases that first appear on your current billing statement.
Calculation of Interest Charges. We calculate a portion of your Interest Charge by multiplying a Monthly Periodic Rate by your Average Daily Balance of Purchases (including new Purchases for which there is no grace period), and by multiplying a Daily Periodic Rate by your Average Daily Balance of Cash Advances (including new Cash Advances). We add together the results of these daily calculations to get your total Interest Charge for the Billing Cycle, subject to a minimum Interest Charge of $1.00 for each Billing Cycle during which Interest Charges based on a periodic rate are imposed.
