getting a little confused with the calculation.
lets pretend John day trades and has $200K cash in his IB account.
at a 4.25% benchmark rate(1/3/08).
to me it looks like John accrues per day:
Tier Balance
<10,000 interest = 0.00
10K-100K interest = 9.375 [90K x (4.25%-0.5%)/360]
>100K interest = 11.11 [100K x (4.25%-0.25%)/360
thus $20.485/day
http://individuals.interactivebroke...nterestMethods.php?ib_entity=llc#calculations
http://individuals.interactivebrokers.com/en/accounts/fees/interest.php?ib_entity=llc
can someone confirm on how this is calculated?
lets pretend John day trades and has $200K cash in his IB account.
at a 4.25% benchmark rate(1/3/08).
to me it looks like John accrues per day:
Tier Balance
<10,000 interest = 0.00
10K-100K interest = 9.375 [90K x (4.25%-0.5%)/360]
>100K interest = 11.11 [100K x (4.25%-0.25%)/360
thus $20.485/day
http://individuals.interactivebroke...nterestMethods.php?ib_entity=llc#calculations
http://individuals.interactivebrokers.com/en/accounts/fees/interest.php?ib_entity=llc
can someone confirm on how this is calculated?