The calculation formula of interest: principal × annual interest rate (percentage) × deposit period.

If the interest tax is X (1-5%)

Total principal and interest = principal+interest

Extended data

The basic formula for calculating interest is: interest = principal × deposit period × interest rate?

Conversion of interest rate The conversion relationship among annual interest rate, monthly interest rate and daily interest rate is as follows:

Annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (days);

Monthly interest rate = annual interest rate ÷ 12 (month) = daily interest rate ×30 (days);

Daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days). ?

Pay attention to the consistency with the deposit period when using interest rates. ?

Interest is the reward that the fund owner gets for lending the fund, which comes from a part of the profits that the producer makes by using the fund to play its operational functions. Refers to the value-added amount brought by monetary funds injected and returned to the real economy. The calculation formula is: interest = principal × interest rate × deposit term × x 100%.

References:

Baidu encyclopedia-interest calculation formula