Mrs. marvel lent Thor 3,550 so that he could get his hammer fixed pursuant to a loan
Question:
Mrs. marvel lent Thor 3,550 so that he could get his hammer fixed pursuant to a loan agreement they both signed on March 22, 2022. pursuant to the agreement, Thor was to have paid back the loan on June 22, 2022 but he failed to do so. Ms Marvel started a lawsuit as a self represented litigant against Thor on August 31, 2022. she claimed the loan amoutn plus pre jdugement interest at the contract rate of 27% and post judgement interest in accordance with the courts of justice act. Thor failed to defend the action and on novemeber 27, 2022, ms marvel obtained judgement on the full claim amount plus interest as claimed and legal costs of 500.
lets also assume thor ignores the judgement untill december 31, 2022 when he pays the loan amount after captain america pays him a new years eve day visit.
what are the pre judgement and post judgement interest amounts owing to ms marvel? show your calculations, including what quarter and year you are using for the interest rate and how determined the number of days between event dates.
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts