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That answer will vary from state to state. In California, you can collect 10% per year on the oustanding balance. You take 10% of the outstanding judgment and divided that number by 365 to obtain the daily rate of interest. Multiply the number of days since the entry of judgment. Payments are applied to interest first and then to the principle. The interest is not capitalized.
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What does post-judgment mean?
judgment mean some one who have done worg and receives his or her judgment.post judgement
How is the interest on a savings account calculated?
The interest on a savings account is calculated by multiplying the account balance by the interest rate and the time the money is held in the account. This calculation is typically done on a monthly or annual basis.
How is the amount of interest earned on an investment calculated?
The amount of interest earned on an investment is calculated by multiplying the principal amount invested by the interest rate and the time the money is invested for. This formula is typically expressed as: Interest Principal x Rate x Time.
What equals interest?
Interest is the cost of borrowing money or the return on investment for deposited funds, typically expressed as a percentage of the principal amount. It is calculated based on factors such as the principal amount, the interest rate, and the time period involved. In financial terms, it can be categorized as either simple interest, which is calculated only on the principal, or compound interest, which is calculated on both the principal and the accumulated interest.
How is margin interest calculated on TD Ameritrade?
Margin interest on TD Ameritrade is calculated based on the amount of money borrowed and the current interest rate. The formula used is: (Amount Borrowed x Interest Rate) / 365. This calculates the daily interest charged on the borrowed funds.
What statements best describes interest?
Interest is the cost of borrowing money, typically expressed as a percentage over a set period of time. It is the fee paid by a borrower to a lender for the use of their money. Interest can be either simple (calculated only on the principal amount) or compound (calculated on the initial amount borrowed and any previously accumulated interest).
Can a judgment get interest applied to it?
Yes it can. Usually in the judgment itself it will state the interest rate wich applies.
Why would someone want to pay off the balance of their credit card each month before interest is calculated?
You might save money by paying the amount you have charged before the interest is calculated.
What is something that refers to the payment made for the use of money?
The payment made for the use of money is referred to as "interest." It is the cost incurred by borrowers for the privilege of using someone else's funds and is typically expressed as a percentage of the principal amount over a specific period. Interest can be categorized into simple interest, which is calculated solely on the principal, and compound interest, which is calculated on the principal plus any accrued interest.
What is the best definition of interestWhat is the best definition of interest?
Interest is the cost of borrowing money or the return on investment for savings, typically expressed as a percentage of the principal amount. It represents the compensation that lenders receive for providing funds and reflects the time value of money. Interest can be simple, calculated only on the principal, or compound, calculated on both the principal and accumulated interest.
A sum paid or charged for the use of money or for borrowing money?
The sum paid or charged for the use of money or for borrowing money is known as interest. It is typically expressed as a percentage of the principal amount, which is the initial sum borrowed or invested. Interest can be classified as simple, calculated only on the principal, or compound, which is calculated on the principal plus any accumulated interest. This financial concept is fundamental in banking, loans, and investments.
How is margin interest calculated for day trades?
Margin interest for day trades is typically calculated based on the amount of money borrowed to make the trade and the interest rate set by the brokerage firm. The interest is usually charged daily on the borrowed amount until the trade is closed.
