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I'm trying to calculate the interest accrued on my amortization schedule manually. I can calculate it fine if payments are exactly one month apart but this payment is More than 1 month apart.

This is a similiar question to Calculating Interest Accrued With an Uneven Interval but slightly different. That question asked when the duration is less than a month, I'm wondering what should happen if it's over a month, slightly.

Last transaction date is 2017-01-01

Next payment is on 2017-02-15 and interest accrued is 609.25 for this payment.

Details of loan

As of 2017-01-01 balance is $100,000

Compounding Monthly

Interest rate 5%

May I ask how was 609.25 calculated?

I tried multiple approaches, first one is calculating 1 month + days left

1 month of interest accrued

accrued =  (((( 1 + (.05 / 12)) ^ 12)  ^ (1/12) - 1) * 100000)
        = 416.67

14 days left (using solution from the previous post)

$100,000 * 0.05 * (14 / 365) = $191.78

Summing the two together gives me $608.45 which is close but not quite correct.

Second approach I took is calculating daily interest accrued.

accrued =  (((( 1 + (.05 / 12)) ^ 12)  ^ (14/365) - 1) * 100000)
        =  617.05

The day count basis for accrued interest is actual/365.

May I ask what is the correct way to calculate the interest accrued.

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The interest compounds monthly, so your balance after the missed payment includes the accrued interest for that period and should be 100,416.67:

accrued =((((1+(0.05/12))^12)^(14/365)-1)*100416.67) + 416.67 = 609.03

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