Description:

1. First, the annual interest rate can be calculated by the following formula: (total interest/loan amount) * (12/ loan term) * 100%.

2. Suppose the monthly repayment amount is 5500 yuan, and the total repayment amount is 5500 * 12 = 66000 yuan.

3. The total interest is the total repayment amount minus the loan amount, that is, 66,000-60,000 = 6,000 yuan.

4. Substitute these values into the formula: (6000/60000) * (12/1) *100% = 0.10 *100% = 6.83.

Extended data:

The annual interest rate refers to the interest generated by loans or investments within one year. It is an important indicator to measure the loan cost or return on investment. For lenders, lower annual interest rate means lower repayment pressure; For investors, higher annual interest rates may mean higher returns. Therefore, it is very important to understand the calculation and influence of annual interest rate in loan or investment decision. Please note that the actual annual interest rate may be affected by other factors (such as handling fees and liquidated damages). ).