Interest on Overdue Invoice
US$0.00
Stock Status:
In stock
AVAILABILITY:
SUBJECT TO AVAILABILITY
Product Code:
Interest
To calculate the interest on an overdue invoice, we need to know the following:
- Principal amount: The original amount of the invoice.
- Annual interest rate: The percentage of interest charged per year.
- Number of days overdue: The number of days the invoice has been past due.
Formula for Simple Interest:
Interest = (Principal Amount * Annual Interest Rate * Number of Days Overdue) / 365