C.M.R. 90, 351, ch. 8, app 351-8-I
The following formulae only apply to continuous compensation payments where the weekly benefit amount remains constant. If the weekly benefit amount changes, and/or there is a break in the period of compensation, the formulae must be applied to each continuous period of equal payments. The interest due from each period must then be added to determine the total interest due.
FORMULAE
(A) To calculate interest when payment is made during the period of entitlement to benefits, the following formula shall be used:
(Weekly compensation x weeks of benefits) x Factor from Table A = Interest due.
For example: A decree dated September 4, 1998 awards compensation at a rate of $300.00 per week from February 2, 1997 to the present and continuing. On September 5, 1998, compensation is paid for incapacity from February 2, 1997 through September 5, 1998. Calculate interest due as follows:
($300.00 x 83) x 0.079084 = $1,969.19
(B) To calculate interest due between the date last payment was due, and the date of payment, the following formula shall be used:
First, determine the amount of interest due for the period of incapacity using formula (A) above. Then apply the following formula:
Amount of interest due between date last payment due and date of payment = ((Weekly compensation x weeks of benefits) + Interest due) x days x 10% / 365
The total amount of interest due will equal the sum of formula (A) and formula (B).
For example: A decree dated September 4, 1998 awards compensation at a rate of $300.00 per week from February 2, 1997 through July 26, 1997. On September 9, 1998, compensation is paid for incapacity from February 2, 1997 through July 26, 1997. Calculate interest as follows:
First calculate the interest due for the period of incapacity:
($300.00 x 25) x 0.022328 = $167.46 (The interest due through July 26, 1997.)
Then, calculate the interest due between the date the last payment was due and the payment date:
(($300.00 x 25) + $167.46) x 405 x 10% / 365 = $850.77 (The interest due from August 1, 1997 through September 9, 1998)
Last, calculate the total amount of interest due:
$167.46 + $850.77 = $1,018.23
TABLE A
# WKS | Factor | # WKS | Factor | # WKS | Factor |
1 | 0.000000 | 53 | 0.049221 | 105 | 0.101698 |
2 | 0.000917 | 54 | 0.050199 | 106 | 0.102741 |
3 | 0.001836 | 55 | 0.051178 | 107 | 0.103785 |
4 | 0.002755 | 56 | 0.052158 | 108 | 0.104830 |
5 | 0.003676 | 57 | 0.053139 | 109 | 0.105877 |
6 | 0.004598 | 58 | 0.054122 | 110 | 0.106924 |
7 | 0.005521 | 59 | 0.055106 | 111 | 0.107974 |
8 | 0.006445 | 60 | 0.056091 | 112 | 0.109024 |
9 | 0.007370 | 61 | 0.057077 | 113 | 0.110076 |
10 | 0.008296 | 62 | 0.058064 | 114 | 0.111129 |
11 | 0.009224 | 63 | 0.059053 | 115 | 0.112183 |
12 | 0.010152 | 64 | 0.060043 | 116 | 0.113239 |
13 | 0.011082 | 65 | 0.061034 | 117 | 0.114296 |
14 | 0.012013 | 66 | 0.062026 | 118 | 0.115354 |
15 | 0.012945 | 67 | 0.063020 | 119 | 0.116414 |
16 | 0.013878 | 68 | 0.064014 | 120 | 0.117475 |
17 | 0.014812 | 69 | 0.065010 | 121 | 0.118537 |
18 | 0.015747 | 70 | 0.066007 | 122 | 0.119601 |
19 | 0.016684 | 71 | 0.067006 | 123 | 0.120666 |
20 | 0.017622 | 72 | 0.068006 | 124 | 0.121732 |
21 | 0.018561 | 73 | 0.069006 | 125 | 0.122800 |
22 | 0.019501 | 74 | 0.070009 | 126 | 0.123868 |
23 | 0.020442 | 75 | 0.071012 | 127 | 0.124939 |
24 | 0.021384 | 76 | 0.072017 | 128 | 0.126010 |
25 | 0.022328 | 77 | 0.073022 | 129 | 0.127083 |
26 | 0.023272 | 78 | 0.074030 | 130 | 0.128157 |
27 | 0.024218 | 79 | 0.075038 | 131 | 0.129233 |
28 | 0.025165 | 80 | 0.076048 | 132 | 0.130310 |
29 | 0.026113 | 81 | 0.077058 | 133 | 0.131388 |
30 | 0.027062 | 82 | 0.078070 | 134 | 0.132468 |
31 | 0.028013 | 83 | 0.079084 | 135 | 0.133549 |
32 | 0.028965 | 84 | 0.080098 | 136 | 0.134631 |
33 | 0.029917 | 85 | 0.081114 | 137 | 0.135715 |
34 | 0.030871 | 86 | 0.082131 | 138 | 0.136800 |
35 | 0.031826 | 87 | 0.083150 | 139 | 0.137886 |
36 | 0.032783 | 88 | 0.084169 | 140 | 0.138974 |
37 | 0.033740 | 89 | 0.085190 | 141 | 0.140063 |
38 | 0.034699 | 90 | 0.086213 | 142 | 0.141153 |
39 | 0.035659 | 91 | 0.087236 | 143 | 0.142245 |
40 | 0.036620 | 92 | 0.088261 | 144 | 0.143338 |
41 | 0.037582 | 93 | 0.089287 | 145 | 0.144433 |
42 | 0.038545 | 94 | 0.090314 | 146 | 0.145529 |
43 | 0.039510 | 95 | 0.091342 | 147 | 0.146626 |
44 | 0.040476 | 96 | 0.092372 | 148 | 0.147725 |
45 | 0.041443 | 97 | 0.093403 | 149 | 0.148825 |
46 | 0.042411 | 98 | 0.094436 | 150 | 0.149926 |
47 | 0.043380 | 99 | 0.095469 | 151 | 0.151029 |
48 | 0.044351 | 100 | 0.096504 | 152 | 0.152133 |
49 | 0.045322 | 101 | 0.097541 | 153 | 0.153238 |
50 | 0.046295 | 102 | 0.098578 | 154 | 0.154345 |
51 | 0.047269 | 103 | 0.099617 | 155 | 0.155454 |
52 | 0.048245 | 104 | 0.100657 | 156 | 0.156563 |
157 | 0.157674 | 209 | 0.217412 | 261 | 0.281194 |
158 | 0.158787 | 210 | 0.218599 | 262 | 0.282462 |
159 | 0.159901 | 211 | 0.219788 | 263 | 0.283732 |
160 | 0.161016 | 212 | 0.220979 | 264 | 0.285004 |
161 | 0.162132 | 213 | 0.222171 | 265 | 0.286277 |
162 | 0.163251 | 214 | 0.223364 | 266 | 0.287551 |
163 | 0.164370 | 215 | 0.224559 | 267 | 0.288828 |
164 | 0.165491 | 216 | 0.225756 | 268 | 0.290106 |
165 | 0.166613 | 217 | 0.226954 | 269 | 0.291385 |
166 | 0.167737 | 218 | 0.228153 | 270 | 0.292666 |
167 | 0.168862 | 219 | 0.229354 | 271 | 0.293949 |
168 | 0.169988 | 220 | 0.230557 | 272 | 0.295233 |
169 | 0.171116 | 221 | 0.231761 | 273 | 0.296520 |
170 | 0.172245 | 222 | 0.232967 | 274 | 0.297807 |
171 | 0.173376 | 223 | 0.234174 | 275 | 0.299097 |
172 | 0.174508 | 224 | 0.235382 | 276 | 0.300388 |
173 | 0.175642 | 225 | 0.236593 | 277 | 0.301680 |
174 | 0.176777 | 226 | 0.237804 | 278 | 0.302974 |
175 | 0.177913 | 227 | 0.239018 | 279 | 0.304270 |
176 | 0.179051 | 228 | 0.240232 | 280 | 0.305568 |
177 | 0.180190 | 229 | 0.241449 | 281 | 0.306867 |
178 | 0.181331 | 230 | 0.242666 | 282 | 0.308168 |
179 | 0.182473 | 231 | 0.243886 | 283 | 0.309470 |
180 | 0.183616 | 232 | 0.245107 | 284 | 0.310775 |
181 | 0.184761 | 233 | 0.246329 | 285 | 0.312080 |
182 | 0.185908 | 234 | 0.247553 | 286 | 0.313388 |
183 | 0.187056 | 235 | 0.248779 | 287 | 0.314697 |
184 | 0.188205 | 236 | 0.250006 | 288 | 0.316008 |
185 | 0.189356 | 237 | 0.251235 | 289 | 0.317320 |
186 | 0.190508 | 238 | 0.252465 | 290 | 0.318635 |
187 | 0.191662 | 239 | 0.253697 | 291 | 0.319950 |
188 | 0.192817 | 240 | 0.254930 | 292 | 0.321268 |
189 | 0.193973 | 241 | 0.256165 | 293 | 0.322587 |
190 | 0.195131 | 242 | 0.257401 | 294 | 0.323908 |
191 | 0.196291 | 243 | 0.258639 | 295 | 0.325231 |
192 | 0.197451 | 244 | 0.259879 | 296 | 0.326555 |
193 | 0.198614 | 245 | 0.261120 | 297 | 0.327881 |
194 | 0.199778 | 246 | 0.262363 | 298 | 0.329208 |
195 | 0.200943 | 247 | 0.263607 | 299 | 0.330538 |
196 | 0.202110 | 248 | 0.264853 | 300 | 0.331869 |
197 | 0.203278 | 249 | 0.266101 | 301 | 0.333202 |
198 | 0.204448 | 250 | 0.267350 | 302 | 0.334536 |
199 | 0.205619 | 251 | 0.268600 | 303 | 0.335872 |
200 | 0.206791 | 252 | 0.269852 | 304 | 0.337210 |
201 | 0.207966 | 253 | 0.271106 | 305 | 0.338550 |
202 | 0.209141 | 254 | 0.272362 | 306 | 0.339891 |
203 | 0.210318 | 255 | 0.273619 | 307 | 0.341234 |
204 | 0.211497 | 256 | 0.274877 | 308 | 0.342578 |
205 | 0.212677 | 257 | 0.276137 | 309 | 0.343925 |
206 | 0.213858 | 258 | 0.277399 | 310 | 0.345273 |
207 | 0.215041 | 259 | 0.278663 | 311 | 0.346623 |
208 | 0.216226 | 260 | 0.279928 | 312 | 0.347974 |
C.M.R. 90, 351, ch. 8, app 351-8-I