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Late payment contractual interest calculator

A breach of contract is usually penalized by interest. It is important to calculate interest correctly. Our calculator can calculate interest on daily, weekly, monthly and annual bases.
Amount of debt
Contractual Interest Rate (%)
Date payment became overdue
The duration of the delay

Calculation

Amount of debt:
CAD 10117.50
Contractual Interest Rate:
2.00%
Date payment became overdue:
2019-02-15
The duration of the delay:
2019-08-13

Interest rate on daily basis

Overdue days:
179
Interest based on daily overdue:
CAD 36220.65 (358.00%)

Interest rate on weekly basis

Overdue weeks:
25.57
Interest based on weekly overdue:
CAD 5174.09 (51.14%)

Interest rate on monthly basis

Overdue months:
5.97
Interest based on monthly overdue:
CAD 1208.03 (11.94%)

Interest rate on annual basis

Overdue years:
0.50
Interest based on annual overdue:
CAD 101.18 (1.00%)

Recent calculations