On the morgage amortization schedule, I would like to include computed late
fees.

Hi Delos,

what information you have in the spreadsheet? (late fees based on what?)
Regards,
ANdras
(Hungary)

"Delos" wrote:

On the morgage amortization schedule, I would like to include computed late
fees.

Thanks for the response ANDras:

The Late charge is not to exceed five cents for each dollar of delinquent
principal and interest or a minimum charge of $10.00 on each payment more
than fifteen days in arrears.

Delos

"ANdras" wrote:

Hi Delos,

what information you have in the spreadsheet? (late fees based on what?)
Regards,
ANdras
(Hungary)

"Delos" wrote:

On the morgage amortization schedule, I would like to include computed late
fees.

Hi Delos,

thanks for the more specific input.
so, assuming, you have an installment table with due dates, principal,
interest, (together the installment), residual value, etc AND actual payment
date
and
if i understood it correctly, in the Late charge column i would write:
=IF((payment date-due
date)15;IF((principal+interest)*0,05<10;10;(princ ipal+interest)*0,05);0)

where payment date & due date, interest, principal can be either named
ranges or cell references.

NB. IF i understood you, then the late fee has only a link to 5% (not yearly
5% = based on the elapsed days, but a fix one?, no matter with how many days
the payment late is (after the 15 days))

Is that, what you had in mind?

Best regards,
ANdras
(Hungary)


"Delos" wrote:

Thanks for the response ANDras:

The Late charge is not to exceed five cents for each dollar of delinquent
principal and interest or a minimum charge of $10.00 on each payment more
than fifteen days in arrears.

Delos

"ANdras" wrote:

Hi Delos,

what information you have in the spreadsheet? (late fees based on what?)
Regards,
ANdras
(Hungary)

"Delos" wrote:

On the morgage amortization schedule, I would like to include computed late
fees.

Thank you again:

I believe this will work. I will work with the formula and see. Thanks again.

Delos

"ANdras" wrote:

Hi Delos,

thanks for the more specific input.
so, assuming, you have an installment table with due dates, principal,
interest, (together the installment), residual value, etc AND actual payment
date
and
if i understood it correctly, in the Late charge column i would write:
=IF((payment date-due
date)15;IF((principal+interest)*0,05<10;10;(princ ipal+interest)*0,05);0)

where payment date & due date, interest, principal can be either named
ranges or cell references.

NB. IF i understood you, then the late fee has only a link to 5% (not yearly
5% = based on the elapsed days, but a fix one?, no matter with how many days
the payment late is (after the 15 days))

Is that, what you had in mind?

Best regards,
ANdras
(Hungary)


"Delos" wrote:

Thanks for the response ANDras:

The Late charge is not to exceed five cents for each dollar of delinquent
principal and interest or a minimum charge of $10.00 on each payment more
than fifteen days in arrears.

Delos

"ANdras" wrote:

Hi Delos,

what information you have in the spreadsheet? (late fees based on what?)
Regards,
ANdras
(Hungary)

"Delos" wrote:

On the morgage amortization schedule, I would like to include computed late
fees.