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Parameters
Results
- Late fee
- $554.79
- Per day (approx.)
- $12.33
Formula: amount × annual rate × (days ÷ 365). Uses 365-day year.
How it works
Calculate late fees when the contract specifies an annual percentage rate.
Who it's for: Accounts receivable staff and attorneys working with annualized penalty clauses.
Formula: amount × (annual rate ÷ 100) × (days ÷ 365).
Also shows approximate daily accrual.
Uses a 365-day year.
How to use
- Enter Amount owed ($), Annual rate (%/year), and Days overdue.
- Read Late fee and Per day (approx.).
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