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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Calculating interest due on a judgment... Posted by Ward-CA- on November 05, 2003 at 7:53 PM In Reply to: Judgement posted by Roman on November 05, 2003 at 6:06 PM : Hi, Ward. I have a question if you don't mind. If in December of 1998 a person had judgement recorded against him for $1,463.57 what this amount would be today? I need it to calculate net equity. : Thanks in advance. : Roman. ================ Roman, In CA judgments carry the legal rate of interest, 10%. It is simple annual interest...it doesn't compound. So the judgment earns $146.36 per year. At the present time the judgment is almost 6 years old. So six times the annual interest amounts to 878.16. Add that to the judgment principal of 1,463.57 and your current principal and interest balance is $2,341.73 dollars. The daily interest earned is approximately 41¢. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi, Ward. I have a question if you don't mind. If in December of 1998 a person had judgement recorded against him for $1,463.57 what this amount would be today? I need it to calculate net equity. : : Thanks in advance. : : Roman. : ================ : Roman, : In CA judgments carry the legal rate of interest, 10%. It is simple annual interest...it doesn't compound. : So the judgment earns $146.36 per year. At the present time the judgment is almost 6 years old. So six times the annual interest amounts to 878.16. Add that to the judgment principal of 1,463.57 and your current principal and interest balance is $2,341.73 dollars. : The daily interest earned is approximately 41¢. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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