how to calculate interest

[Brookeley]

What is the name of your state? Washington

I won a small claims case against an ex boyfriend last year. He was supposed to pay $100/month but never paid anything. I went back for review this month and I am now going to garnish his wages.

The amount he owes is on a credit card and I was awarded 12% interest. I have all of the forms to go through garnishment, but I am not sure how to calculate the interest (a finite number must be entered).

I am allowed to collect all of the interest from last year until it is paid off based on $100/month payments.

 

[JETX]

The process that Donona gave is a good formula for calculating simple interest.
Another way is to use the calculator at:
http://www.unusualaccess.com/mycustompage0015.htm

However, most judgments allow you to use compound interest which is much more complex. You might use any of the online calculators, like found at:
http://www.bankindex.com/tools/calculator_compound.asp
http://javascript.internet.com/calculators/compound-interest.html
http://www.summerlandcu.org.au/compound-interest-calculator.html
http://www.loan-calculators.com/compound-interest/compound-interest-calculator.html

 

[Brookeley]

Thank you very much.