Statutory Interest Calculator - North Carolina

N.C.G.S. § 24-1 sets eight percent (8%) per year simple interest for judgments and contracts without a specified rate in 2026. Fixed—not market-indexed. 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. 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.

On judgments, accrual generally begins on the judgment date under § 24-1. Contract claims from breach when the agreement is silent on rate. Build a payment chronology. 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.

Express contract rate governs when provided. § 24-1 eight percent applies when the agreement is silent on interest for qualifying obligations. 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. 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.

§ 24-1 uses simple eight percent on principal. No default compounding. Michigan MCL 600.6013 compounds annually—a different system. 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. 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.

Pre-judgment requires contract or statutory authority before entry. Post-judgment § 24-1 eight percent runs on judgment principal from entry date. § 1-362 limits wage collection post-judgment. 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. 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.

Simple interest: principal times eight percent times years. Twenty-five thousand dollars for eighteen months equals three thousand dollars. TheLegalCalc multiplies your inputs. 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. 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.