2. The annual interest rate and the monthly interest rate are mainly different. Monthly interest rate can be converted into annual interest rate, and monthly interest rate * 12= annual interest rate. If the loan term is in years and the repayment method is equal principal and interest or equal capital, the calculation method of interest will be different. Ordinary car loans and mortgage loans generally adopt equal principal and interest or average capital's repayment method. I suggest you use the loan calculator directly. It will be more complicated to use the formula. Monthly interest rate = monthly interest rate × time× principal; Annual interest rate = monthly interest rate × 12 (month )× time× principal. Interest rate conversion formula: daily interest rate = monthly interest rate ÷30 (days) = annual interest rate ÷360 (days). Examples are as follows:
1) monthly interest, for example, if you lend money to others, the monthly interest is 1 (1%), then you take 1 × 1, and one month is 1000 yuan. If the annual interest rate is 4%, you can get 4000 yuan a year, and 4000 yuan a month/12 = 333.3 yuan.
2) The annual interest rate is 12 months. For example, if the annual interest rate of 6.5% is converted into a monthly interest rate, the monthly interest rate is 6.5%/ 12 ≈ 0.54%. If the monthly interest rate is converted into annual interest rate, it is called annualized rate. There are two situations: 1) compound interest (interest rolling), annual interest rate.
1. Interest rates generally have three forms: annual interest rate, monthly interest rate and daily interest rate. The annual interest rate is expressed as a percentage of the principal, which China calls "points"; The monthly interest is expressed as a few thousandths of the principal, which China calls "profit"; The daily interest rate is expressed as a few ten thousandths of the principal, which is called "milli" in China.
2. The interest is calculated as follows:
1) Regular interest calculation: for the account whose interest is calculated by deposit and loan balance table or subsidiary ledger, the number of days is calculated from the deposit and loan date to the day before the withdrawal and return date. The calculation formula is interest = accumulated interest product × daily interest rate.
2) Interest calculation on a case-by-case basis: the annual interest is calculated for the whole year, and the monthly interest is calculated for the whole month. There are whole years (months) and odd days, which can be converted into whole days. All years: interest = principal × time× annual interest rate or monthly interest rate. All converted into days: interest = principal × time× daily interest rate.