Interest paid in one year: 180 yuan

The monthly interest is 3%, so the monthly interest rate is 0.3. In the case of normal loan repayment in one year, interest = principal × interest rate × term , then the calculation result of one year's interest is as follows:

One year's interest = 5000×0.3×12= 180 yuan.

Interest refers to the remuneration that currency holders (creditors) receive from borrowers (debtors) for lending currency or monetary capital. Including interest on deposits, loans and various bonds.

Extended information:

The interest calculation formula is mainly divided into the following four situations:

1. The basic formula for calculating interest, the basic formula for calculating savings deposit interest It is: Interest = Principal × Deposit Period × Interest Rate.

2. Conversion of interest rates. The conversion relationship between annual interest rate, monthly interest rate and daily interest rate is:

(1) Annual interest rate = monthly interest rate × 12 (month) = Daily interest rate × 360 (days);

(2) Monthly interest rate = annual interest rate ÷ 12 (months) = daily interest rate × 30 (days);

(3) Daily interest rate = Annual interest rate ÷ 360 (days) = Monthly interest rate ÷ 30 (days);

In addition, the interest rate should be consistent with the deposit period.

3. The issue of interest calculation starting point in the interest calculation formula:

(1) The interest calculation starting point for savings deposits is yuan, and no interest will be paid on cents below yuan;

(2) The interest amount is calculated to the nearest cent, and the cent will be rounded to the nearest cent when actually paid;

(3) Except that the annual settlement of current savings can transfer the interest to the principal for interest generation, For all other savings deposits, regardless of the deposit period, the interest will be paid off upon withdrawal, without compound interest;

4. The calculation issue of the deposit period in the interest calculation formula:

( 1) The deposit period is calculated by counting the beginning and not the end;

(2) Regardless of big month, small month, ordinary month or leap month, each month is calculated as 30 days, and the whole year is calculated as 360 days ;

(3) The maturity dates of various deposits are calculated on the basis of year, month and day. If the account opening date is a missing date in the expiration month, the end of the expiry month will be the expiry date. Due date.