Opinion ID: 770445
Heading Depth: 2
Heading Rank: 3

Heading: Interest Calculation.

Text: 28 Trisko argues that the district court erred in calculating prejudgment interest on his award. We disagree. First, it is clear that Minnesota's general statute regarding interest on verdicts governs his award. See Minn. Stat. § 549.09 (2000). Using this statute, the district court correctly calculated the rate of interest for Trisko's claim to be five per cent. See Minn. Stat. § 549.09, subd. 1(c) (2000). 29 Trisko contends that he is entitled to compound interest on his award. Compound interest is [i]nterest paid on both the principal and the previously accumulated interest. Black's Law Dictionary 817 (7th ed. 1999). Simple interest, in contrast, is [i]nterest paid on the principal only and not on accumulated interest. Id. The governing statute provides that prejudgment interest shall be computed as simple interest per annum. § 549.09, subd. 1(c). Accordingly, the district court correctly determined that Trisko was not entitled to have the interest on his award compounded annually.