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.
How much do you pay or earn in interest? It depends on the interest rate, which is usually quoted as a percentage rate per year. A higher rate means the borrower pays more. For example, an interest rate of 10% per year and a balance of $100 results in interest charges of $10 per year assuming you use simple interest.