late payment fees

[Runkle]

Hi guys, this is my first post here and I was wondering if you could help. I'm interning and have been asked to create a system that would help them introduce late payment fees on their past due debtors.

They are able to charge 4.5% per month overdue, compounded quarterly.

I am not sure exactly where to begin, and any insight into making something that could calculate the amount that could be charged would help.

Optimally I would like to have the following collumns: date of purchase, date of payment, days overdue, late fee penalty, balance.


Thanks!

[Fotis1991]

Welcome to the Forum, unfortunately:

This is a duplicate post and as such does not comply with Rule 5 of our forum rules. This thread will now be closed, you may continue in your other thread.

Thread Closed.