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

In Wisconsin, the amount of interest owed on a small claims court judgment is determined by the Small Claims Rules of Wisconsin Statutes. If the defendant owes money to the plaintiff in a small claims case, the defendant is obligated to pay interest from the date of the judgment. To calculate the amount of interest owed, you need to know the amount of the judgment, the date when the judgment was entered in court, and the annual interest rate. In Wisconsin, the annual interest rate for judgments is 6%. To calculate the amount of interest owed, you must first multiply the amount of the judgment by 6%. You then need to divide the resulting number by 365 to determine the daily interest rate. Finally, you need to multiply the daily rate of interest by the number of days elapsed since the entry of judgment. The resulting figure is the amount of interest owed on the judgment. For example, if a judgment award of $1,000 was entered on March 15th, 2020, and interest is calculated on July 25th, 2020, the calculation would look as follows: $1,000 x 6% = $60. $60 / 365 = $0.164. $0.164 x 121 days (July 25th - March 15th) = $19.9, which is the amount of interest owed. It is important to note that if the judgment is paid in full before the payment date set by the court, the plaintiff is not entitled to any interest.

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

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