The annualized interest rate can be converted from monthly interest rate or daily interest rate, and vice versa.
The specific conversion formula is: monthly interest rate = annual interest rate/12= daily interest rate *30, and daily interest rate = annual interest rate /360= monthly interest rate /30.
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How to convert the seven-day annualized rate of return into annual interest rate?
7-day annualized rate of return is the annual real interest rate, and 7-day annualized rate of return divided by 7 times 365 is the annual rate of return.
The seven-day annualized rate of return is the average income level of the money fund in the last seven days, which is obtained after annualization.
For example, the annualized rate of return of a monetary fund is 2% on the same day, and assuming that the income of the monetary fund in the next year can remain unchanged at the level of the previous seven days, then you can get 2% of the overall income if you hold it for one year.
Only the daily interest rate, annual interest rate and monthly interest rate can be converted, and the formula is.
Annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×365 (day).
Monthly interest rate = annual interest rate12 (month) = daily interest rate ×30 (days).
Daily interest rate = annual interest rate ÷365 (days) = monthly interest rate ÷30 (days).
Suppose the daily interest rate of a product is 0.04%, the monthly interest rate is 1.2%, and the annual interest rate is 14.4%. It is suggested that some products should bear interest according to 360 days, and some products should bear interest according to 365 days, so the yield has some deviation.