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 2014-02-20, 15:34 #1 swl551     Aug 2012 New Hampshire 11001010002 Posts need some math help. Sorry for this, but you guys are the only ones that I know that can really help me organize this matrix into an accurate mathematical formula. The person who put this matrix together does not have a formula, they just manually carry values over from one month to the other. The goal is to calculate the Base Fee + Penalty compounded 1.5% for each month late. I know it is probably simple, but MATH and I just are not friends. Attached Thumbnails
2014-02-20, 15:51   #2
Mini-Geek
Account Deleted

"Tim Sorbera"
Aug 2006
San Antonio, TX USA

102668 Posts

Attached is an Excel spreadsheet that comes up with the same final number you have. The main formulas are:
Fee = last Total
INTEREST = Fee * Percent
Total = Fee + INTEREST

If you want to calculate the interest for n months at a time (compounded monthly), calculate (1+Percent)^n, e.g. 1.015^12=1.1956..., and 200*1.1956... = 239.12 (the total at 16 Apr 2011)

If there's some other mathematical formula you're looking for, I'm not sure what it is exactly.
Attached Files
 swl551's formula.zip (7.6 KB, 212 views)

Last fiddled with by Mini-Geek on 2014-02-20 at 15:56

2014-02-20, 16:33   #3
swl551

Aug 2012
New Hampshire

11001010002 Posts

Quote:
 Originally Posted by Mini-Geek Attached is an Excel spreadsheet that comes up with the same final number you have. The main formulas are: Fee = last Total INTEREST = Fee * Percent Total = Fee + INTEREST If you want to calculate the interest for n months at a time (compounded monthly), calculate (1+Percent)^n, e.g. 1.015^12=1.1956..., and 200*1.1956... = 239.12 (the total at 16 Apr 2011) If there's some other mathematical formula you're looking for, I'm not sure what it is exactly.
Thanks. I am working on the formula now in my SQL code. I'll let you know the results...

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