An interest that should be paid by the loser to the court on a judgement is called as judgment or judicial interest. This civil suit interest formula is used to find the daily interest, accrued interest and current value.
Civil Suit Interest Formula
Formula:
No. of Days = (Current Time Stamp - Judgement Time Stamp) / 1000 / 60 / 60 / 24
Daily Interest (DI) = (((Amount * (Rate of Interest (IR) / 100)) / 365) * 100) / 100
Interest Accrued (IA) = (No. of Days * DI * 100) / 100
Current Value = Amount + IA
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