## Interest calculation example

For a US-MI this interest calculation, use the verified rate from the current rule packet: **3.66%**. The verified packet cites Mich. Comp. Laws § 600.6013 (https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-600-6013).

Example inputs:
- Principal: $10,000
- Days in calculation period: 365

Calculation:
- Convert the rate to a decimal: 3.66% = 0.0366
- Multiply principal by the rate and the day fraction.
- Example interest: **$366.00**

This example is generated from verified packet facts. Confirm compounding, judgment date, and case-specific accrual before relying on the amount.

## Interest calculation example

For a US-MI this interest calculation, use the verified rate from the current rule packet: **3.66%**. The verified packet cites Mich. Comp. Laws § 600.6013 (https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-600-6013).

Example inputs:
- Principal: $10,000
- Days in calculation period: 365

Calculation:
- Convert the rate to a decimal: 3.66% = 0.0366
- Multiply principal by the rate and the day fraction.
- Example interest: **$366.00**

This example is generated from verified packet facts. Confirm compounding, judgment date, and case-specific accrual before relying on the amount.

## Interest calculation example

For a US-MI this interest calculation, use the verified rate from the current rule packet: **3.66%**. The verified packet cites Mich. Comp. Laws § 600.6013 (https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-600-6013).

Example inputs:
- Principal: $10,000
- Days in calculation period: 365

Calculation:
- Convert the rate to a decimal: 3.66% = 0.0366
- Multiply principal by the rate and the day fraction.
- Example interest: **$366.00**

This example is generated from verified packet facts. Confirm compounding, judgment date, and case-specific accrual before relying on the amount.

## Interest calculation example

For a US-MI this interest calculation, use the verified rate from the current rule packet: **3.66%**. The verified packet cites Mich. Comp. Laws § 600.6013 (https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-600-6013).

Example inputs:
- Principal: $10,000
- Days in calculation period: 365

Calculation:
- Convert the rate to a decimal: 3.66% = 0.0366
- Multiply principal by the rate and the day fraction.
- Example interest: **$366.00**

This example is generated from verified packet facts. Confirm compounding, judgment date, and case-specific accrual before relying on the amount.


Judgment Interest Calculator Guide for Michigan.

Judgment Interest Calculator Guide for Michigan

(9) in the event that the purchase of an insurance contract or insurance annuity in connection with termination of an individual’s status as a participant covered under a pension plan with respect to all or any portion of the participant’ s pension benefit under such plan constitutes a violation of part 4 of this title [1] or the terms of the plan, by the Secretary, by any individual who was a participant or beneficiary at the time of the alleged violation, or by a fiduciary, to obtain appropriate relief, including the posting of security if necessary, to assure receipt by the participant or beneficiary of the amounts provided or to be provided by such insurance contract or annuity, plus reasonable prejudgment interest on such amounts;

In any action under this subchapter by a fiduciary for or on behalf of a plan to enforce section 1145 of this title in which a judgment in favor of the plan is awarded, the court shall award the plan— (A) the unpaid contributions, (B) interest on the unpaid contributions, (C) an amount equal to the greater of— (i) interest on the unpaid contributions, or (ii) liquidated damages provided for under the plan in such amount not in excess of 20 percent (or such higher percentage as may be permitted under Federal or State law) of the amount determined by the court under subparagraph (A), (D) reasonable attorney’s fees and costs of the action, to be paid by the defendant, and (E) such other legal or equitable relief as the court deems appropriate. For purposes of this paragraph, interest on unpaid contributions shall be determined by using the rate provided under the plan, or, if none, the rate prescribed under section 6621 of title 26.

(1) Interest is allowed on a money judgment recovered in a civil action, as provided in this section. However, for complaints filed on or after October 1, 1986, interest is not allowed on future damages from the date of filing the complaint to the date of entry of the judgment. As used in this subsection, "future damages" means that term as defined in section 6301.

Interest shall be allowed on all money judgments...

Interest on money held in escrow shall be paid to the person entitled to that money at the rate determined in accordance with this section.

An escrow agent shall pay interest at the rate of 5% per annum for any money held in escrow for 6 months or more.

An escrow agent may choose not to pay interest if the amount held in escrow is less than $50.

(5) Except as provided in subsection (6), for a complaint filed on or after January 1, 1987, but before July 1, 2002, if a judgment is rendered on a written instrument, interest is calculated from the date of filing the complaint to the date of satisfaction of the judgment at the rate of 12% per year compounded annually, unless the instrument has a higher rate of interest. In that case, interest shall be calculated at the rate specified in the instrument if the rate was legal at the time the instrument was executed. The rate under this subsection shall not exceed 13% per year compounded annually after the date judgment is entered.

(6) For a complaint filed on or after January 1, 1987, but before July 1, 2002, if the civil action has not resulted in a final, nonappealable judgment as of July 1, 2002, and if a judgment is or has been rendered on a written instrument that does not evidence indebtedness with a specified interest rate, interest is calculated as provided in subsection (8).

(2) For complaints filed before June 1, 1980, in an action involving other than a written instrument having a rate of interest exceeding 6% per year, the interest on the judgment is calculated from the date of filing the complaint to June 1, 1980, at the rate of 6% per year and on and after June 1, 1980, to the date of satisfaction of the judgment at the rate of 12% per year compounded annually.

(3) For a complaint filed before June 1, 1980, in an action involving a written instrument having a rate of interest exceeding 6% per year, the interest on the judgment is calculated from the date of filing the complaint to the date of satisfaction of the judgment at the rate specified in the instrument if the rate was legal at the time the instrument was executed. However, the rate after the date judgment is entered shall not exceed either of the following: (a) Seven percent per year compounded annually for a period of time between the date judgment is entered and the date of satisfaction of the judgment that elapses before June 1, 1980. (b) Thirteen percent per year compounded annually for a period of time between the date judgment is entered and the date of satisfaction of the judgment that elapses after May 31, 1980.

The rate of interest on a judgment is equal to the average interest rate on 1-year U.S. Treasury Bills for the preceding calendar year, rounded to the nearest tenth of a percent.

(1) The security deposit shall be deposited in a regulated financial institution. A landlord may use the moneys so deposited for any purposes he desires if he deposits with the secretary of state a cash bond or surety bond written by a surety company licensed to do business in this state and acceptable to the attorney general to secure the entire deposits up to $50,000.00 and 25% of any amount exceeding $50,000.00. The attorney general may find a bond unacceptable based only upon reasonable criteria relating to the sufficiency of the bond, and shall notify the landlord in writing of his reasons for the unacceptability of the bond.

A security deposit may be used only for the following purposes: (a) Reimburse the landlord for actual damages to the rental unit or any ancillary facility that are the direct result of conduct not reasonably expected in the normal course of habitation of a dwelling. (b) Pay the landlord for all rent in arrearage under the rental agreement, rent due for premature termination of the rental agreement by the tenant and for utility bills not paid by the tenant.

The tenant shall notify the landlord in writing at the address given under section 4 within 4 days after termination of his occupancy of an address at which communications pursuant to this act may be received. Failure to comply with this requirement relieves the landlord of the requirement of notice of damages but does not prejudice a tenant's subsequent claim for the security deposit.

Michigan judgment interest rate is 5% above the federal discount rate, with a minimum floor of 6% per year.

interest in US-MI is governed by Mich. Comp. Laws § 600.6013.