The interest is 20000 *12 * 6.4% =1536 yuan; If average capital repayment method is adopted, the interest must be deducted from the paid part. For example, if you repay a loan of 700,000 yuan to 30,000 yuan every month, the interest will be 700,000× 6.4%12 in the first month, 670,000× 6.4%12 in the second month and 640,000× 6.4%12 in the third month. For example, Li Er borrowed 10000 yuan from Hu San, saying that borrowing 1 month would pay 5% daily interest. So what Li Er means is to borrow Hu San 1 0,000 yuan and give Hu San 0.05% daily interest. After Hu San's principal is added with interest, 1 0,000+10,000 * 0.05% * 30 =10/kloc-

Abstract interest point refers to the value-added amount brought by monetary funds injected into the real economy and returned. Generally speaking, interest refers to the remuneration paid by the borrower (debtor) to the lender (creditor) for using the borrowed currency or capital. Also known as the symmetry of sub-fund and parent fund (principal). The calculation formula of interest is: interest = principal × interest rate × deposit period (i.e. time). Interest is 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 their business functions. Refers to the value-added amount brought by monetary funds injected into the real economy and returned. The calculation formula is: interest = principal × interest rate × deposit period × 100%.

Li is a traditional interest unit in China, such as: annual interest 1%, that is, 1%, annual income 1 000 yuan; Monthly profit 1%, that is, 0. 1%, and monthly income 1 ten thousand yuan is 10 yuan; Daily interest (interest rate) 1% 0.0 1% lending 1. 1 daily income 1 yuan. The score is 10 times that of Li. First of all, the saying that a few cents is a few cents is more common in private lending. Of course, many loan intermediaries also like to use this statement. What is the interest rate of 6%? First of all, one thousandth of a centimeter, that is, 1 cm, is 1‰ or 0. 1%.6 cm is 0.6% or 6‰. So the interest in the intermediary's mouth is 6%, which can only be a monthly interest rate, that is, the monthly interest rate is 0.6%, which translates into an annual interest rate of 0.6% * 12 = 7.2%. Compared with the benchmark interest rate of bank loans, 4.35% (within one year) is high, but it is also within the acceptable range.

1. Calculation method of interest: interest can be calculated by the following formula: loan interest = loan amount * loan interest rate * loan term. Suppose Xiao Wang borrows 20,000 yuan and pays it off in one year. It should be noted that before lending, you must ask whether the interest is simple interest or compound interest. If it is simple interest, the interest is 20000 *12 * 0.6% =1440 yuan;

2. But if it is compound interest, that is, we often say compound interest, the interest will be much higher, which can be calculated by the formula [(1+0.6%) _-1] * 20000.