I want to calculate the interest on delayed payments made in part, adding up the accured payment along. For ex. say 1st installment is due in 30 days, next in 60 days, next in 90 days and so on, for Rs. 2,00,000/- each (amount may vary). The 1st payment is made on 90th day for Rs.1,00,000 , 60 days past due. Total payment now due is 3,00,000/- (1,00,000 for previous date and 2,00,000 for second instalment). Now, I have to calculate interest on 2,00,000 for 60 days, and additional interest on 2,00,000+1,00,000 till such period that the payment is made on reducing balance. Down the line, the interest is to be calculated for multiple instalments for varied periods. How do i put a formula to this. Hope I am clear.
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