Updated October 28, 2016. Exterior walls can be finished with a wide array of materials and techniques. Exterior wall finishes can produce significant savings for the contractor as well as for the building occupant and there are many options that will protect you from fire, heat, snow and that can save some money to you.
When Is Penalty Interest Payable? Penalty interest is payable when money is due, but is not paid by the due date. This means that late payment of deposit or late payment of the balance of the purchase price at settlement will usually give rise to an obligation to pay penalty interest.
Multiply the amount you owe by the penalty percentage and add that figure to the balance. For example, if you owe $1,000 and have a 0.5-percent penalty amount, the penalty equals $50 and your total balance is $1,050. Go to the IRS website to find the current federal short-term interest rate. Add an additional 3 percent to this figure to calculate the amount of late-payment interest you are being charged.