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