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Receivables - EBS (MOSC)

Interest Invoice Calculation

Sep 26, 2013 10:49AM edited Oct 1, 2013 12:17PM in Receivables - EBS (MOSC) 2 commentsAnswered

Oracle Interest Invoice has calculated an interest of $4.35 @ 1.5% for 30 days for the below data

Interest for Overdue 1921052;
Due Date 16-SEP-13;
Overdue Amount 300;
Calculate Interest To 26-SEP-13;
Days Overdue 10;
Interest Rate 1.5%

Please help me in understanding how the figure of $4.35 has been calculated

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