How do I calculate the amount of interest owed on a small claims court judgment?

In Michigan, the amount of interest owed on a small claims court judgment is calculated in accordance with the Michigan Court Rules. The interest rate is determined by the date the order was entered. For orders entered on or after January 1, 2018, the interest rate is 4.25%. For orders entered before January 1, 2018, the interest rate is 5%. To calculate the amount of interest owed, you will need to determine the amount of the judgment, the date it was entered, and the number of days from the date the judgment was entered until the present. First, determine the amount of the judgment. This is the amount that the court has ordered the defendant to pay. Second, determine the date the order was entered. This is the date the judge issued the judgment. Third, calculate the number of days from the date of the entry of the order to the present. Fourth, calculate the interest owed. To do this, multiply the amount of the judgment by the interest rate and by the number of days. For example, if the judgment was for $1,000 and the interest rate was 5% and it has been 30 days since the entry of the judgment, the interest owed would be $125 (1,000 x 0.05 x 30/365). Once you have calculated the interest owed, it must be added to the amount of the judgment to arrive at the total amount due.

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