payments against accumulated simple interest

Discussion in 'Math' started by samjesse, Apr 30, 2011.

  1. samjesse

    Thread Starter Senior Member

    Sep 14, 2008
    I need to calculate and “line graph” the total money “levy” owed at any given time.
    A levy comes due 4 times annually. Start of Feb, May, Aug. Nov.
    30 days late payment bears until paid simple interest at an annual rate of 10 per cent.
    In the past, partial payments have been made over time in such a way that subsequent levies came due. Also levy change took place at some time in the past.
    This is not homework but a problem with our strata payments that I need to solve.

    Thank a lot