penalty calculation

[sna]

Hi there!
if client disbursed on date between 01 Jun 2022 To 31 January 2023 ,Penalty total payment(Principal+Interest) * number of days *penalty rate
per year divided by 360 but if client is late less than 4 days no penalty charged,but if he is late from 4 days ,charge him/her full

if client disbursed on date from 01 February 2023 ,Penalty total payment(Principal+Interest) * number of days *penalty rate per year divided by 360 too
but amount if less than or equal 5$ charge 5$ ,if penalty calculated is over 5$ charge as calculation.
thanks

[snasui]

The example formula is below.

=IF(G10<4,0,IF(AND(A10>=DATE(2022,6,1),A10<=DATE(2023,1,31)),ROUND(F10*G10*I6/360,-2),IF(A10>=DATE(2023,2,1),MAX(5,ROUND(F10*G10*I6/360,-2)),0)))

Hope this helps.

[sna]

Thanks.it is helpful