Current location - Loan Platform Complete Network - Bank loan - If the annual interest rate of the loan is 8.950000%, how to calculate the interest?
If the annual interest rate of the loan is 8.950000%, how to calculate the interest?
The annual interest is 35,800 yuan.

Interest is equal to 400,000 * 89,500% = 35,800 yuan. Using the formula, the principal multiplied by the interest rate is the interest for one year.

Interest refers to the reward obtained by the fund owner for lending the fund, which comes from part of the profits formed by the producers using the fund to play its operational functions.