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  • How is interest calculated?

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Interest is generally calculated as follows:

    (number of days ÷ 365 [see note]) × amount of payment × (interest rate for period ÷ 100)

    Note: 366 for a leap year

    Last modified: 06 Mar 2020QC 27745