Hi samjesse,

You need to provide a lot more information than that:
• at what frequency is interest calculated?
• does the interest compund, or is only simple interest charged?
• if the interest compounds, does the 10% represent the simple rate (eg 10%/12 monthly calculations) or compound rate (eg 10%^(1/12) monthly calculations)?
• is interest charged on the overdue instalment, or on the whole amount?

__________________
Cheers,
Paul Edstein
[Fmr MS MVP - Word]