Maine Alliance for Road Associations
I have spent a good part of this rainy morning getting our road association's annual dues bills ready to mail out. I've been dreading having to re-figure the interest on some long-term non-payers, which is complicated by the fact that a couple of them have not paid in so long that the amount of our dues has changed more than once.
(At least we have fewer non-payers than we used to, thanks to Notices of Claim being settled as properties sold, or people who were behind making a concerted effort to catch up.)
Anyway, as I began the dreaded task of figuring out the interest, I suddenly remembered that one of the MARA Board members had posted a link on the MARA Resources page to an interest calculator. I was skeptical, but perhaps looking for another way to procrastinate, I figured I'd check it out.
Boy, am I glad I did! It made the calculations easy-peasy! All I had to do was fill in the amount of the dues, the rate of interest we charge, the date on which the bill was originally due, and today's date, then tell it to calculate, and up popped my answer!
After I did the first one, some of the blanks remained the same so I didn't even have to fill all of them in to do the next one. So if any of you are struggling with interest calculations as I was, I highly recommend you check out the Interest Calculator on the MARA Resources page.
The Maine Alliance for Road Associations