@iwannabe_Brown I like the idea of the reverse half life (the double life?) - 5%, 10%, 20%, 40%, 80%, zero. It’s finite, yet powerful. I may adopt this.
@mamaedefamilia It’s the doubling time (https://en.wikipedia.org/wiki/Doubling_time). The penalty for a late paper would be 5% with a doubling time of 24 hours.
As a good example to your students: Please cite your source if you use it :-B 
(j/k, but how funny would it be to cite a random internet stranger as the source of your grading policy)
@iwannabe_Brown Absolutely. Proper citation is key. Especially if it brings them to CC! :))
Well, it’s not a scholarly haiku. But it rhymes.
if you want then, next time if you doubt anything don’t hesitate to ask your professor. just because your professor is lenient on deadlines, you’ll live with it. you shouldn’t practice submitting if it’s almost deadline already. deadlines are important, they gave you deadline because they already allotted time for the stuffs that your professor needs to do, especially if you are working already, betting your life just to meet the deadline is a thing.
It is never good to hesitate,
Or to say “my homework, the dog ate.”
Rather, submit it on time.
The prof will say “this is fine.”
And any fears you may have will abate.
The OP hasn’t been back since the day the thread was started.
Have you checked the syllabus or online system you use for your class?
MODERATOR’S NOTE:
There is nothing left to add; the original poster has not come back, so I’m closing this thread.