Office of Workers' Compensation Programs (OWCP)
Division of Longshore and Harbor Workers' Compensation (DLHWC)
CHAPTER 8-201 INTEREST
INTEREST = |
(B x r) x (p2-p) |
|
26 x 2 |
$140 x .06 |
x |
484 - 22 |
= |
$8.40 x 462 |
= |
$3,880.80 |
= |
$74.63 |
26 |
|
2 |
|
52 |
|
52 |
|
|
SLIDING INTEREST = |
$ 74.63 |
ACCRUED PAST DUE COMPENSATION = 22 x 140 = |
3,080.00 |
TOTAL PAST DUE PLUS INTEREST = |
$3,154.63 |
140 x .06 |
x |
5184 - 72 |
= |
$42940.8 |
= |
$825.78 |
26 |
|
2 |
|
52 |
|
|
Period |
Bi-weekly Compensation Rate |
No. of Bi-weekly Payments Due |
Total Benefits |
08/06/86 - 09/30/86 |
$596 |
4 |
$ 2,384 |
10/01/86 - 09/30/87 |
$642 |
26 |
16,692 |
10/01/87 - 09/30/88 |
$688 |
26 |
17,888 |
10/01/88 - 07/31/89 |
$744 |
22 |
16,368 |
formula: |
(B x r) x (p2 - p) |
|
26 x 2 |
($596 x .06) |
x |
( 16 - 4) |
= |
$ 8.25 |
26 |
x |
2 |
|
|
($642 x .06) |
x |
(676 - 26) |
= |
481.50 |
26 |
x |
2 |
|
|
($688 x .06) |
x |
(676 - 26) |
= |
516.00 |
26 |
x |
2 |
|
|
($744 x .06) |
x |
(484 - 22) |
= |
396.61 |
26 |
x |
2 |
|
|
Period 1 |
$ 2,384 |
x |
74 |
x |
.0023076 |
= |
$ 407.10 |
Period 2 |
16,692 |
x |
48 |
x |
.0023076 |
= |
1,848.89 |
Period 3 |
17,888 |
x |
22 |
x |
.0023076 |
= |
908.12 |
|