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Can you work this payment out for me pls

(21 Posts)
notonyurjellybellynelly Mon 29-Feb-16 18:05:49

I'm feeling really daft asking this but I can really be doing with some help - mostly because Im dealing with Scrooge tomorrow and Im feeling really intimidated.

So the calculation is this -

There is a sum of 8000 pounds to be divided between two people for work done over a period of 10 months.

Person A paid the 1040 pounds cost associated with the project up front on behalf on A and B.

A and B were to share the income 50-50 for the month of Sept, Oct, Nov, Dec, Jan.

Person B is to get the income for Feb, Mar, Apr, May, June.

Just who gets how much pls?

notonyurjellybellynelly Mon 29-Feb-16 18:07:23

ETA - Ive worked it out a few times and come up with two sets of figures.

FatimaLovesBread Mon 29-Feb-16 18:09:56

If the income is deemed to be equal each month then person A should get then £1040 back and then 25% of the remaining money and person b should get 75%

FinallyHere Mon 29-Feb-16 18:09:58

Is the income the same month by month?

What was agreed about how the costs were to be recouped, do they get repaid before any income is distributed? Is any interest due on the costs paid up front?

Getting clear on those points may help to clarify.

LineyReborn Mon 29-Feb-16 18:11:15

Was one of your calculations £2320 and £4640?

FatimaLovesBread Mon 29-Feb-16 18:11:25

So A £1040 plus £1740
Person B £5220

LineyReborn Mon 29-Feb-16 18:12:58

Oh forget what I said, I've had a chardonnay. What they said ^^ grin

Imnotaslimjim Mon 29-Feb-16 18:15:15

I've worked it out thus

£1040 to person A for previous

£6960 remaining

Then this is either split into 20 parts (2 lots of 10 for the months) with A receiving 5 parts (£1740) and B receiving 15 parts £5220)

Or both receiving 10 parts of £6960 each

I'm not very good at putting things into words so I hope this makes sense

Balletgirlmum Mon 29-Feb-16 18:15:47

First of all person a gets £1040 leaving a balance of 6,960

Divide that by 20 2 lots of 5 months x2
Equals 348

Then person a gets 5 X 348 equals 1,740 (so £2,780 including their up front cost)

Person B gets 15x 348 equals £5,220

Imnotaslimjim Mon 29-Feb-16 18:16:39

sorry, 10 parts = £3480 each, depending on how the hours in the first 5 months

notonyurjellybellynelly Mon 29-Feb-16 18:17:19

Thank You. Just blooming well thank you. All of you!

Fatima has come up with the same figures I did and now Im not feeling nearly so daft!

And Im sorry I should have explained it was all straight forward when it came to interest etc - there was none.

It was a very basic, I'll sort out the costs and we'll work it out at the end blush

notonyurjellybellynelly Mon 29-Feb-16 18:20:43

And Ive cross posted with others and if its ok Im going to practice the explanations and not be intimidated tomorrow by Scrooge.

I do arithmetic the old fashioned way, I just do sums, and things like parts confuse me but these answers have made it really clear whats going on and Im happy smile

Thank you!

dodobookends Mon 29-Feb-16 18:38:26

Fatima has it. There is £8000 coming in, but there are costs of £1040 which Person A paid out. The costs need to be deducted first, then divvy up the remainder equally.If so, first pay back the £1040 expenses to Person A out of the £8000, which leaves a balance of £6960 income.

Divide that £6960 by two = £3480. That's how much income there is for the first 5 months to be divided equally = £1740 each.

Person A gets all of their expenses back plus their half of the first 5 months' income. £1040 + £1740 = £2780

Person B gets their half from the first 5 months of £1740 plus all the income for the second 5-month period of £3480. £1740 + £3480 = £5220

£2780 + £5220 = £8000

HTH

SallyGardens Mon 29-Feb-16 18:42:33

8000 - 1040 = 6860 / 10 = 686 per month

Person A gets [(686 / 2) x 5] + 1040 = 1715 + 1040 = 2755

Person B gets [(686 / 2) x 5] + [686 x 5] = 1715 + 3430 = 5145

dodobookends Mon 29-Feb-16 18:42:53

Are you person A by any chance? grin

SallyGardens Mon 29-Feb-16 18:44:18

Except I can't subtract apparently so replace the 686 with 696.

notonyurjellybellynelly Mon 29-Feb-16 18:45:18

Sorry, Im back again.

I really do have to pay my share of the expenses and it seems I put in the 1040 but then Im taking all of it out.

When have I put it back in and paid up?

notonyurjellybellynelly Mon 29-Feb-16 18:46:21

Yes I am and I wish I wasnt right now.

Im not usually so thick but this person has a habit of sitting over you when calculations are being done and my brain comes to a complete and utter halt. I just sit there and go red. I hate it.

notonyurjellybellynelly Mon 29-Feb-16 18:48:30

and now Im asking stupid questions.

Imnotaslimjim Mon 29-Feb-16 19:49:38

The 1040 is removed before any other divvying up is made.

Are you expecting Scrooge to cause trouble?

notonyurjellybellynelly Mon 29-Feb-16 20:07:32

Thank you. No, Im not expecting trouble. Just an unfortunate manner that means each and every time we do finances I get brain freeze.

Its like when I was a wee girl and fabulous at mental maths. I could answer arithmetic questions before the adult contestants on quiz shows did. I use to get to help in my uncles shop, just serve a few customers and my ability to add up a bill in my head was considered quite something - until a certain customer came in and made me just go all to pot. Adults in the shop would say oh stop hanging over her like that, she can add your basket up with her eyes closed grin

The person Im dealing with tomorrow has the same effect on me.

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