Default Interest Calculation

An Excel file that teaches how to perform Default Interest Calculation operation.

Excel Powered Default Interest Calculation

The principal amount, maturity date, payment date, and interest rate are determined. The delay period is calculated on a daily basis and included in the formula. Mathematical formulas are created according to whether the interest is calculated daily, monthly, or annually. As a result, the amount of late payment interest to be added to the debt is clearly determined. This calculation ensures transparency in financial transactions.

Hope it is useful.