Money Judgment Interest Calculator

Money judgment interest is the interest that accrues on a court judgment award. This calculator helps you determine how much interest will accumulate on a judgment amount over a specific period, based on the applicable interest rate and time.

How to Use This Calculator

Using the money judgment interest calculator is simple. Follow these steps:

Enter the judgment amount in the first field.
Select the interest rate from the dropdown menu.
Enter the number of days the interest will accrue.
Click "Calculate" to see the result.

The calculator will display the total interest accrued and the total amount including interest.

How Money Judgment Interest Works

Money judgment interest is calculated based on the judgment amount, the applicable interest rate, and the time period. The interest is typically calculated daily and added to the principal amount.

In many jurisdictions, the interest rate is set by law and may vary depending on the type of judgment. For example, in the United States, the federal interest rate for money judgments is typically 6% per annum, while some states may have different rates.

The Formula

The formula for calculating money judgment interest is:

Interest = (Judgment Amount × Interest Rate × Days) / 365

Total Amount = Judgment Amount + Interest

Where:

Judgment Amount is the amount awarded in the court judgment.
Interest Rate is the daily interest rate applicable to the judgment.
Days is the number of days the interest will accrue.

Worked Example

Let's say you have a judgment amount of $10,000, an interest rate of 6% per annum, and the interest will accrue for 90 days.

First, convert the annual interest rate to a daily rate:

Daily Interest Rate = Annual Interest Rate / 365

Daily Interest Rate = 0.06 / 365 ≈ 0.00016438

Next, calculate the interest:

Interest = (10,000 × 0.00016438 × 90) ≈ $14.80

The total amount including interest is:

Total Amount = 10,000 + 14.80 = $10,014.80

Frequently Asked Questions

What is money judgment interest?: Money judgment interest is the interest that accrues on a court judgment award. It is calculated based on the judgment amount, the applicable interest rate, and the time period.
How is money judgment interest calculated?: Money judgment interest is calculated using the formula: Interest = (Judgment Amount × Interest Rate × Days) / 365. The total amount is then the judgment amount plus the interest.
What is the typical interest rate for money judgments?: The typical interest rate for money judgments varies by jurisdiction. In the United States, the federal interest rate is 6% per annum, while some states may have different rates.
Can money judgment interest be waived?: In some cases, money judgment interest may be waived if the judgment is for a small amount or if the parties agree. However, this is not always possible, and it's important to consult with a legal professional.
How can I calculate money judgment interest?: You can use this money judgment interest calculator to calculate the interest accrued on a court judgment. Simply enter the judgment amount, interest rate, and number of days, then click "Calculate" to see the result.