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Alteryx Designer Desktop Discussions

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SOLVED

Penalty Interest Calculation

Sidey1978
8 - Asteroid

Hi all

 

I have a made up list of bad payers that I need to charge penalty interest on. The terms of payment are that invoices over 30 days old will be charged interest at 2% compounded monthly.

 

I'm not sure what it is about this that has me so baffled. Perhaps I'm just bad at the maths! 

 

Can anyone shed any light on how I can achieve this via Alteryx?

 

Cheers

 

 

2 REPLIES 2
CharlieS
17 - Castor
17 - Castor

A couple of field conversions need to be done first (Amount to numeric field, date time format), but after that I applied the following formula to calculate amount owned to the current date.

 

A = P(1+r/n)^(nt)

 

Converted to an Alteryx formula for monthly compounding:

[P]*POW((1+([r]/12)),[Months])

 

 

Sidey1978
8 - Asteroid

Hi @CharlieS

 

Fantastic, thank you for your help on this!

 

Cheers

Sidey

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