1. Converting the annual interest rate into a monthly interest rate is to divide the annual interest rate by 12, regardless of the term. The loan interest conversion formula is daily interest rate (‰) = annual interest rate (%)/360-month interest rate (‰) = annual interest rate (%)/ 12. Interest rates are divided into annual interest rate, monthly interest rate and daily interest rate, and the conversion rate is 360 for the whole year.

2. Daily interest rate = annual interest rate ÷ 360 = monthly interest rate ÷30 interest rate = annual interest rate ÷ 12 Generally speaking, the interest rate expressed by the percent sign refers to the annual interest rate unless otherwise specified. What we are talking about now is the annual real interest rate. If converted into monthly interest rate, it can be divided into nominal interest rate and real interest rate. Monthly nominal interest rate = annual real interest rate/12, which is not used for calculation.