Comment on Christian 8.'s Loan from Thorvaldsen
This number was calculated as follows:
- Between the date on which Thorvaldsen’s calling in of the debt on 9.12.1826 and June 26, 1829, when the first partial repayment of the principal was made, five biannual interest payments of 225 scudi fell due, for a total of 1125 scudi.
- In October 1829, a biannual interest payment of the remaining debt (now 7000 scudi) fell due, amounting to half of the annual five percent interest on the sum (350 scudi), namely, 175 scudi.
- Following the second partial repayment of the principal, on October 8, 1829, the remainder of the loan amounted to 5000 scudi. The annual interest due to Thorvaldsen was five percent interest of this amount, or 250 scudi, which he would have received in four biannual payments (April 1830, October 1830, April 1831, and October 1831) for a total of 500 scudi.
Last updated 23.07.2015