Anything can be the reason for the late payment of the next loan payment: delayed wages, urgent unplanned expenses, illness or malaise, and many other reasons. After all, life is unpredictable, and, fortunately, short-term delays in payments will not affect your credit history. But the agreements provide for penalties for late payments, the amount of which must be calculated so as not to end up in eternal debtors with the bank.
It is necessary
- - calculator
- - pencil
- - paper
Instructions
Step 1
In order to calculate the delay, let's use some simple math. Let's say that we pay 5,000 rubles on a loan every month. At the same time, we understand that we will not be able to pay off the loan on time this month.
We read the loan agreement. Suppose it states that the default interest is 0.5% for each day of delay. Thus, the very next day after the due date, we will owe the bank another (5000 × 0.5%) 25 rubles. That is, to pay off the delay, we will have to pay 5025 rubles.
Step 2
Suppose we know that we can pay the delay in 5 days after the due date. In this case, the delay should be calculated as follows.
The debt after 1 day of delay is 5025 rubles. The next 0.5% of the penalty will be charged already on this amount.
Thus, the debt at the end of 2 days of delay will be (5025 × 0.5% + 5025) 5050.13 rubles.
Step 3
Similarly, the delay should be calculated for the rest of the days.
At the end of 3 days (5050, 13 × 0.5% + 5050, 13) - 5075, 38 rubles.
At the end of the 4th day (5075, 38 × 0.5% + 5075, 38) - 5100, 76 rubles.
At the end of the 5th day (5100, 76 × 0.5% + 5100, 76) - 5126, 26 rubles.
Even if we pay off the loan in the morning of 5 days, then the delay should be calculated for 5 whole days, since funds are debited from accounts once a day, usually late in the evening.
Now you will be able to correctly calculate the delay and pay off the debt to the nearest penny.
