I'm sending out montly rent bills.

They contain a 5% late payment penalty if the rent is received after
the 5th of the month.

I'd love to setup up in excell a cell with the correct formula for a
"late payment fee". The spreadsheet contains a cell "RENT" where the
rent is listed.

During the 3rd or 4th week of the current month, and it varies as to
exact date, the bills are mailed out for the upcoming month.

Any help would be appreciated.

Bernie