Judgment Interest Calculator - Michigan

Under MCL 600.6013(8), the rate is the five-year U.S. Treasury note average plus one percent, certified every six months. For January through June 2026, the Michigan State Treasurer certified four point seven two five percent (4.725%) per year—3.725% Treasury average plus 1%. Contract rates apply up to thirteen percent (13%) under MCL 600.6013(7) when specified. Interest compounds annually and begins at filing under MCL 600.6013(10). Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Michigan compounds interest annually on principal under MCL 600.6013—not simple interest like most states. Accrual begins at filing under subsection (10). For planning approximations, simple interest at four point seven two five percent on fifty thousand dollars for two years is about four thousand seven hundred twenty-five dollars, but compounded annually yields a higher total. Consult counsel for court-ready compound calculations. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Under MCL 600.6013(10), interest begins on the date of filing the action—not the judgment date. This rewards early suit filing and increases carry cost during long pretrial periods. Judgment entry does not restart the clock; filing does. Document your complaint filing date on the docket. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Yes. MCL 600.6013 provides for compound annual interest—a rare feature nationally. Most states including Ohio, Georgia, and North Carolina use simple interest only. This calculator's simple-interest mode is a screening approximation; actual judgments compound annually on principal. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

The Michigan State Treasurer recalculates the MCL 600.6013(8) rate every six months on January 1 and July 1 using the five-year Treasury note average plus one percent. January through June 2026 is four point seven two five percent (4.725%). July through December 2026 will use the next certification. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Parties may settle and waive interest subject to authority and bankruptcy rules. Clarify whether MCL 600.6013 compound accrual from filing stops on payment. Contract rates up to thirteen percent under subsection (7) may differ from the Treasury formula. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.