Legal Question in Family Law in Arizona

I won legal fees. The order says 2320.00 with interest 4.25% per Annum plus 1%. She is 9 months late paying. I understand the 4.25, but what is the 1%? Is it just added to the 4.25?

Asked on 10/02/22, 8:32 am

1 Answer from Attorneys

Rich Peters R.J. Peters & Assoc., P.C.

The judge awarded you 5.25% interest. Arizona law sets the correct interest as the US prime rate (4.25%), plus 1%.

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Answered on 10/02/22, 8:47 am

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