Interest = principal × interest rate× loan term
As you said, the loan is 200,000 yuan, the monthly interest rate is 0.7 1%, and the monthly interest payable is 200,000 * 0.7 1% * 1.0420 yuan.
The annual interest rate is 0.71%*12 = 8.521%.
The loan is 200,000 yuan, with a term of 1 year, annual interest rate of 8.52 1% and annual interest of 200,000 yuan * 8.52 1% * 1 year = 17042 yuan.
The interest rate of savings deposits shall be stipulated by the state and promulgated by the People's Bank of China. Interest rate, also known as interest rate, is the ratio of interest to principal on a certain date, which is generally divided into annual interest rate, monthly interest rate and daily interest rate. The annual interest rate is expressed as a percentage, the monthly interest rate is expressed as one thousandth and the daily interest rate is expressed as one thousandth. If the annual interest rate of 9% is written as 0.9%, that is to say, every thousand yuan deposit will get the regular annual interest rate of 9 yuan, and the monthly interest rate of 6% is written as 6‰, that is, the monthly interest rate of every thousand yuan deposit is written as 6 yuan, and the daily interest rate of 1.5‰ is written as1,that is, the daily interest rate of every thousand yuan deposit is 65438+50 0 yuan. At present, savings deposits in China are listed at the monthly interest rate. In order to facilitate interest calculation, three kinds of interest rates can be converted, and the conversion formula is: annual interest rate ÷ 12= monthly interest rate; Monthly interest rate ÷30= daily interest rate; Annual interest rate ÷360= daily interest rate.
The interest calculation formula 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;
III. Starting point of interest calculation formula, 1, starting point of interest of savings deposit is RMB, and no interest is paid for points 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;
Fourth, the calculation of the deposit period is in the interest calculation formula, 1, and the calculation of the deposit period adopts the method of not counting the first number and the last number; 2. Every month is counted as 30 days, regardless of big month, small month, flat month and leap month, and every year is counted as 360 days. 3. The maturity date of all kinds of deposits shall be calculated annually and monthly. If the account opening date is the missing date of the due month, the last day of the due month is the due date.
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.
I. Basic formula for calculating interest The basic formula for calculating interest on savings deposits is: interest = principal × deposit period × interest rate.
II. Conversion of Interest Rate 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 (days); 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). Pay attention to the consistency with the deposit period when using interest rates.
Third, the starting point of interest calculation
1. The value point of the savings deposit is RMB yuan, and no interest is paid for the points below RMB yuan.
2. The interest amount shall be calculated to one decimal place and rounded to one decimal place when actually paid.
3. Except that the current savings are settled on an annual basis and the interest can be converted into principal, regardless of the deposit period, the interest of other savings deposits will be paid off with the principal at the time of withdrawal, excluding compound interest.
IV. Calculation of Deposit Term
1, the term of deposit should be calculated at the beginning rather than at the end.
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.
Five, the calculation of foreign currency savings deposit interest, foreign currency savings deposit interest rate in accordance with the interest rate announced by the People's Bank of China, the original currency savings, the original currency interest (secondary currency can be converted into RMB according to the foreign exchange rate of the day to pay). Its interest-bearing provisions and calculation methods are compared with RMB deposit methods.
reference data
Baidu encyclopedia-interest calculation formula
How much is the interest on the bank loan?
The loan interest rate for one year to three years (including three years) is 4.75%, and the loan interest rate for more than five years is 4.9%.
Loan means that banks, credit cooperatives and other institutions lend money to units or individuals who use money, and generally agree on interest and repayment date. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development.
How to calculate the interest on bank loans?
Interest = principal × interest rate × loan term; For example, with a loan of 200,000 yuan, the monthly interest rate is 0.7 1%, and the monthly interest payable is 200,000 * 0.7 1% * 1 month = 1420.
Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.