The South Carolina Supreme Court has set the interest rate to be paid for the year on money decrees and judgments.
An order from the court dated Monday pegs the rate at 11.5% compounded annually.
Under state law, the rate “is equal to the prime rate as listed in the first edition of the Wall Street Journal published for each calendar year for which the damages are awarded, plus four percentage points,” the order says. The rate must be set annually by Jan. 15.
The annual interest rate has been applied to all judgments entered on or after July 1, 2005.