Post by ThreeSticks on Jul 1, 2021 22:24:56 GMT
David Wright gets 2 deferral days a year.
He deferred $15.5 million from 2013-2018. On June 30th of 2021-2025, he receives $3.1 million.
He deferred $6.0 million from 2019. On July 1st of 2021-2023, he receives $2 million.
He deferred $15.5 million from 2013-2018. On June 30th of 2021-2025, he receives $3.1 million.
He deferred $6.0 million from 2019. On July 1st of 2021-2023, he receives $2 million.
On 12/31/2023 he receives an interest check on the 2019 $6 million. The deferred interest rate was 2.5% compounded monthly. My rough math shows that to be roughly a $20 million interest payment? ($6.0m compound monthly at 2.5% from Jan 2019 to Dec 2023)*
*Forbes says the 2.5% compounded monthly on the $6 million will net a $800,000 interest payment on 12/31/2023. I am clearly misunderstanding how compound interest works apparently.