To use the simple interest
calculator you will need to input your 'interest
rate (per annum)' manually. So, for example, if you are
applying the current judgment rate of interest to a judgment debt,
you will have to check in advance what this rate is according to
the legislation in force at the date of judgment or the statutory
implied rate under the Late Payment of Commercial Debts (interest)
Act.
For more complex debts with variable
rates over time or compound interest, you can still use the simple
interest calculator, but you will need to input and print out
separate calculations following any date when the rate changes or
interest compounds, adjusting the next period's interest rate (per
annum)' or principal sum accordingly.
Click on the link to access
our simple interest calculator.
