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

To calculate the amount of interest owed on a small claims court judgment in Wisconsin, you will need a few pieces of information. First, you should know the principal amount of money you are collecting. This is the amount of money granted to you by the court’s judgment. Secondly, you should know the legal interest rate for the state of Wisconsin. For small claims court judgment requests, this rate is 12%. Finally, determine how long the interest should accrue. Using these numbers, you can calculate the amount of interest owed in Wisconsin small claims court. To do so, you will calculate the accumulated amount using the formula: principal amount x (1 + interest rate)^time. For example, if you are calculating the total amount owed on a judgment of $1000 with an interest rate of 12% over a period of 6 months, you would use the formula: 1000 x (1+0.12)^6 = $1,155.90. To find the interest owed, you will then subtract the principal amount from the accumulated amount. In our example, the interest owed on the judgment would be $155.90. It is important to note that interest rate and amount owed could change depending on the amount of time that has elapsed since the court’s judgment. It is always best to check with the court to be sure you have the correct interest rate before calculating the total amount owed.

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

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