Trying to figure out if the interest being charged to my RBC line of credit is higher than it should be?
My balance last month was $10,000. And the prime interest rate for that period was 2.95%.
According to my calculation, 0.0295 * 10000 / 12 = $24.58 for what the interest should be.
But I got charged $30.71.
Am i miscalculating this? Or is RBC screwing me?