700,000 yuan is deposited for three years, and the interest due at 3: 85% is 80,850 yuan. Time deposits are calculated at simple interest.

Interest refers to the use fee of money in a certain period, which is the fruit of money. In the financial loan contract, it should be narrowly understood as the interest during the loan period, that is, the borrower repays the principal and interest as promised during the loan period, and there is no overdue repayment. The calculation method of interest during the loan period is principal * loan interest rate * loan term, and the loan interest rate usually adopts floating interest rate method.