Home loan interest Calculation

Hi
Could somebody please explain how Bankwest calculated the home loan
interest for April was \$3,392.19
Calculation
Thanks
Dan
Product Type: FIXED RATE HOME LOAN 2
Limit: \$543,300.80
Interest Rate: 7.45% Term: 360 Month(s)
Repayment Amount: \$3,780.25
Next Repayment Date: 30/04/2007
Current Balance: -\$538,685.44
Available Balance: \$4,615.36
30/04/2007 DEBIT INTEREST - CAPITALISED INT AFTER M/SAVR OFFSET
\$8.86
\$3,392.19 -\$538,685.44
23/04/2007 FROM
DR
\$407.55 -\$535,293.25
16/04/2007 FROM
DR
\$3,800.00 -\$535,700.80
10/04/2007 FROM
DR
\$3,800.00 -\$539,500.80
SEARCH
\$13.00 -\$543,300.80
02/04/2007 GOVT FEE DOCUMENT STAMP
DUTY
\$684.25 -\$543,287.80
02/04/2007 DLI REGISTRATION OF
MORTGAGE
\$82.00 -\$542,603.55
02/04/2007 HOUSING LOAN APPLICATION
FEE \$700.00
-\$542,521.55
02/04/2007 DLI CHECK TITLE
SEARCH
\$6.50 -\$541,821.55
02/04/2007 LENDERS MORTGAGE
INSURANCE
\$14,300.80 -\$541,815.05
In article ,
Taking \$538,685.44 x 0.0745 / 12 = \$3344.34. That very simple calculation got us to within \$50 of their number, so we know things are in the ballpark. It probably happened that one month wasn't exactly 30 days, the time between payments wasn't exactly 30 days, or the full balance did not apply for the entire month.
Your contact should state how interest is calculated, and what the rules are for adjusting the rate of interest (if any).
-john-

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