Calculating Accrued Judgment Interest
Example:
Assume
Judgment
Principal $2,500.00
Rate of Interest Awarded 9.0%
Date Interest Awarded 2/15/98
Return Date 7/18/00
Multiply the rate of interest awarded at judgment and the amount of the
judgment principal to compute the amount of interest per year.
$2,500 X .09 = $225.00
Divide the annual interest by 12 to compute the monthly interest.
$225.00/12 = $18.75
Multiply the monthly interest by the total number of months from the award
date to the return date to compute the total interest. due.
$18.75 X 29 = $543.75
