The first two parameters "Total Payment Period" and "Regular Payment Amount" are required;
The third parameter "Current Value" is a required parameter; If omitted, its value is assumed to be 0;
The fourth parameter "Final Value" is not required; If omitted, its value is assumed to be 0;
The fifth parameter "Opening Payment" is an optional parameter, which is used to specify whether the payment time of each period is at the beginning or the end. For example, fill in the number 1 at the beginning and 0 or omit it at the end.
It is known that the loan period is 36 months, and it will be repaid to 200 yuan every month, with a loan amount of 6,500 yuan. Calculate the monthly loan interest rate in cell B4 and the annual loan interest rate in cell B5.
Operating steps:
1 Select cell B4, enter the English formula: =RATE(B 1, B2, B3), and press enter to confirm the formula, and the monthly loan interest rate will return to 0.56%.
Select cell 2b5, enter the formula: =RATE(B 1, B2, B3)* 12, and press enter to confirm the formula, and the annual loan interest rate will return to 6.76%.
It is known that the payment period of a wealth management product is 15 years, with an annual payment of 20,000 yuan and a return of 400,000 yuan to investors. Calculate the annual interest rate of wealth management products in cell B4.
Operating steps:
Select cell B4, enter the formula: =RATE(B 1, B2, 0, B3), press enter to confirm the formula, and return the annual interest rate of 3.98%.
Related Q&A: Related Q&A: How to calculate the annualized interest rate of loans? The calculation method of bank loan interest is usually monthly compound interest. There are two ways to repay by installments: one is equal principal and interest, and the other is average capital. Short-term loans can also be repaid in one lump sum.
The interest calculation formula 62616964757a68696416fe59b9e7ad9431333431353962 is mainly divided into the following four situations.
First, the basic formula for calculating interest. The basic formula for calculating the interest of savings deposits is: interest = principal × deposit period × interest rate;
The second is the conversion of interest rate, in which the conversion relationship among annual interest rate, monthly interest rate and daily interest rate is: annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (day); 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). In addition, the use of interest rates should be consistent with the deposit term;
Third, the starting point of the interest calculation formula,
1, the starting point of savings deposit interest is RMB, and interest is not paid for cents below RMB;
2. The interest amount shall be calculated to one decimal place and rounded to one decimal place when actually paid;
3. All savings deposits, regardless of the deposit period, are paid with the principal at the time of withdrawal, excluding compound interest, except that the current savings are settled annually and the interest can be converted into the principal;
Fourthly, the calculation of deposit period in the interest calculation formula,
1, and the storage period is calculated by counting the first number and the last number;
2, regardless of the big month, small month, flat month, leap month, every month is calculated as 30 days, and the whole year is calculated as 360 days;
3. The maturity date of all kinds of deposits shall be calculated on an annual and monthly basis. If the account opening date is the missing date of the expiration month, the expiration date should be the last day of the expiration month.
Provisions for calculating deposit term
1. When calculating interest, the number of days of deposit is calculated at the beginning, not at the end, that is, from the date of deposit to the day before withdrawal;
2, regardless of leap year, average year, regardless of the size of the month, 360 days a year, 30 days a month;
3. Calculated by year, month and day, the maturity date of various time deposits shall be subject to year, month and day. That is, from the deposit date to the same day of the following year is a pair of years, and the deposit date to the same day of next month is a pair of months;
4. Maturity date of time deposit. For example, if you don't work on legal holidays, you can withdraw one day in advance and calculate interest at maturity. The procedure is the same as that of early withdrawal.
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
The calculation formula of accrued interest is: accrued interest = principal × interest rate × time.
Accrued interest shall be accurate to two decimal places, and the number of interest-bearing days shall be calculated according to the actual holding days.
PS: The deposit period should correspond to the interest rate, not necessarily the annual interest rate, but also the daily interest rate and the monthly interest rate.