Can someone please clarify this statement about late work policy in my professor's syllabus?

Question

"Late works will be penalized by 1/3 letter grade per day, e.g. B to B- if one day late."

So say I turn in a paper one day late......the max grade I can get on that assignment would be A (as opposed to A+) right?

Answer 1

Just turn them in on time and you won't have to worry about it.

Answer 2

Thats the way it appears to me.

Answer 3

Yep.