Bureau of Workers' Compensation, Harrisburg, Pennsylvania
Claims Department / Calculations
Worksheet For The Calculation of Interest At 10% Up to the End of the Period Of Weekly Payments at Compound and Simple Interest
Step 1 ENTER the Date of the First Day of Periodic Payments IN BOX A If the date was July 5, 1995 enter 7051999, that is, (MMDDYYYY) The Date you have entered in Box A is: ENTER the Date of the First Day Following The Last Day of Periodic Payments IN BOX B If the the first day following the last payment day was December 21, 2002, enter 12212002, that is, (MMDDYYYY) The Date you have entered in Box B is: Number of Total Days in Payments Period Number of Whole Weeks in Payments Period Number of Days in the Final Partial Week of Payments Period 3 ENTER Amount Per Week IN BOX F A #NUM! B
2
#NUM! C D E F #NUM! #NUM! #NUM!
COMPOUND INTEREST CALCULATION at 10%
Compound Interest Accrued up to End of Payments Period Total Weekly Payments Weekly Payments plus Accrued Compound Interest Up to End of Periodic Payments Period
G H I
#NUM! #NUM! #NUM!
SIMPLE INTEREST CALCULATION at 10% *
Simple Interest Accrued up to End of Payments Period Total Weekly Payments Weekly Payments plus Accrued Simple Interest Up to End of Periodic Payments Period
J K L
#NUM! #NUM! #NUM!
* Note: A constant rate of simple interest implies a decreasing effective rate of interest for periods over one year. This spreadsheet assumes that interest accrues from the end of the first week through to the end of the payments period. If this assumption is inappropriate for your calculation, please consult another source.
2312d12d-5152-470e-bff3-cb800d4b9ca2.xls Weekly Payments
9/16/2008 12:36 PM
Bureau of Workers' Compensation, Harrisburg, Pennsylvania
Claims / Calculation Department
Worksheet to Calculate Interest at 10% over a Period of Time on a Principal Amount Calculations For Both Simple and Compound Interest
Step 1 ENTER the Date of the First Day From Which Interest Accrues On a Principal Amount IN BOX A If the the first day from which interest accrues on a principal amount was December 21, 2002, enter 12212002, that is, (MMDDYYYY) The Date you have entered in Box A is: A 4051998
4/5/1998
2
ENTER the Date Up To Which Interest Accrues on the Principal Amount IN BOX B If the date is August 5, 2004 enter 08052004, that is, (MMDDYYYY) The Date you have entered in Box B is: Number of Total Days in the Interest Accrual Period Number of Whole Weeks in the Interest Accrual Period Number of Days in the Final Partial Week of the Interest Accrual Period is Box E
B
5062004
5/6/2004 C D E 2223 317 4
The time from the first date to the last date is the Interest Accrual Period
3
ENTER The Amount of Principal On Which Interest Will F Accrue IN BOX F If a principal amount or a stream of periodic payments had accrued interest from a prior period, the amount in Box F might then be the original Principal or Payments plus the interest that had accrued.
$
105,000.00
COMPOUND INTEREST CALCULATION AT 10% Accrued COMPOUND Interest Over the Accrual Period Defined In Section 2, Above G $ 88,270.00
Principal Plus Accrued Compound Interest
H
$
193,270.00
SIMPLE INTEREST CALCULATION AT 10% * Accrued SIMPLE Interest Over the Accrual Period Defined In Section 2, Above I $ 63,949.32
Principal Plus Accrued Simple Interest
J
$
168,949.32
* Note: A constant rate of simple interest implies a decreasing effective rate of interest for periods over one year.
2312d12d-5152-470e-bff3-cb800d4b9ca2.xls Principal Amount
9/16/2008 12:36 PM