1. For private loans, interest is calculated with simple interest. Bank deposit is a simple method of interest calculation.
Interest = principal × interest rate × term
Three-year interest = 100000× 1%×36=
36,000 yuan
2. usury companies use compound interest to calculate interest, which is compound interest.
The formula for calculating interest by compound interest is:
F=P×( 1+i)N (power)
F: compound interest final value
headmaster
One: Interest rate
N: integer multiple of interest rate acquisition time
Sum of principal and interest =100000× (1+1%) 36 =
143076.88 yuan
Three-year interest =143076.88-100000 =
43,076.88 yuan