1. The formula for calculating interest: principal × annual interest rate (percentage) × deposit period.

2. Equal principal and interest method:

Calculation formula: Monthly repayment = principal*monthly interest rate*[(1-month interest rate)^n/[(1-month interest rate)^ n-1]

In the formula, n represents the number of months of the loan, ^n represents the nth power, such as ^240, which represents the 240th power (loan for 20 years, 240 months)

Monthly interest rate = annual interest rate/12

Total interest = monthly repayment * number of loan months - principal

3. Equal principal method:

Calculation Formula: Monthly repayment = principal/n remaining principal * monthly interest rate

Total interest = principal * monthly interest rate * (number of loan months/2 0.5)

4. Loan interest is generally divided into three types: annual interest rate, monthly interest rate, and daily interest rate.

5. The interest rate is expressed as a percentage, the monthly interest rate is expressed as a thousand percent, and the daily interest rate is expressed as a ten thousand percent

6. Annual interest rate ÷ 12 = monthly interest rate; monthly interest rate ÷ 30 = daily interest rate ; Annual interest rate ÷ 360 = daily interest rate.

Extended information:

1. The basic formula for calculating interest. The basic formula for calculating interest on savings deposits 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:

Annual interest rate = monthly interest rate × 12 (months) = daily interest rate × 360 (days);

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

Daily interest rate = annual interest rate ÷ 360 (days) = monthly interest rate ÷ 30 (days) .

Reference materials: Interest calculation formula - Baidu Encyclopedia? Equal principal and interest method - Baidu Encyclopedia? Equal principal method - Baidu Encyclopedia