Hi, if a tenant misses his rental payment, the lease agreeemnt says that after 7 dyas they shall be liable to a charge of 12% per annum calculated on a daily basis from the date on which the money falls short to the date when the the money is recieved. Is there a simple formala for me to calculate that in excel based on a set or variables? ie monthly rental amount, interest rate, months missed etc
Thnx