Late Fee on a $75,000 Invoice, 30 Days Overdue
Interest at 1.5% a month
$1,125.00
1.5% a month, simple interest charged pro rata by day, with no flat fee added.
How that number is worked out
These are the figures this page was built with and every line the calculator produces from them. Change anything above and all of it moves.
- Unpaid invoice amount75000 $
- Late fee rate you wrote in the contract1.5 % per month
- Days past due30
- Flat fee, if your contract has one0 $
Now owed$76,125.00
| Original invoice | $75,000.00 |
|---|---|
| Days late | 30 (1 months) |
| Interest at 1.5% a month | $1,125.00 |
| Flat fee | $0.00 |
| Total now due | $76,125.00 |
| Annual rate this equals | 18% |
| Per day from here | $37.50 |
Days past due compared
Interest is simple and pro rata by day, so it climbs in a straight line rather than accelerating.
| Days past due | Now owed | Total now due |
|---|---|---|
| 30 days | $76,125.00 | $76,125.00 |
| 60 days | $77,250.00 | $77,250.00 |
| 90 days | $78,375.00 | $78,375.00 |
| 120 days | $79,500.00 | $79,500.00 |
What else matters here
Seventy five thousand dollars 30 days past due carries $1,125 of interest, $76,125 in total, and $37.50 a day. At one percent a month it would be $750 and $25 a day.
A state prompt payment act can supply a second rate that has nothing to do with your contract. Prompt payment statutes set payment deadlines and attach their own interest to a payment that misses them.
What this calculator assumes
- A late fee is only collectable if it was in the contract or on the invoice before the invoice went late. A fee that first appears in a reminder email is not enforceable anywhere.
- 1.5 percent a month is 18 percent a year and is the common trade figure, but states cap this. Several cap it below 18 for consumer work, and a rate over the cap can void the whole fee clause, not just the excess.
- Interest here is simple, charged pro rata by day. Compounding monthly is legal in some states and not others, so the simple figure is the safe one to put on paper.
Questions people ask
What is the late fee on a $75,000 invoice at 30 days?
$1,125 at 1.5 percent a month, making $76,125 due and $37.50 a day after that.
What is a prompt payment act?
A state statute setting deadlines for construction payments and attaching interest when they are missed.
The late fee calculator takes any dimensions you like and hands back the same list.