• MR is the monthly rent ($) • D is the number of days rent is late • P is the late rent % fee per day To calculate a late rent fee, multiply the monthly rent by the number of delays late, then again by the late rent fee percentage per day over 100. ## How to Calculate Late Rent? The following example problems outline how to calculate Late Rent. Example Problem #1 1. First, determine the monthly rent ($). In this example, the monthly rent ($) is given as 1500 . 2. Next, determine the number of days rent is late. For this problem, the number of days rent is late is given as 5 . 3. Next, determine the late rent % fee per day. In this case, the late rent % fee per day is found to be 1. 4. Finally, calculate the Late Rent using the formula above: LR = MR * D * %/100 Inserting the values from above yields: LR = 1500 * 5 * 1/100 = 75 ($)

Example Problem #2

The variables needed for this problem are provided below:

monthly rent ($) = 1100 number of days rent is late = 10 late rent % fee per day = 2 Entering these values and solving gives: LR = 1100 * 10 * 2/100 = 220 ($)