Current location - Loan Platform Complete Network - Bank loan - I want to find a private loan of 50 thousand, with interest of one point and eight percent, and pay it off in one year. How much is the monthly interest? What's the annual interest rate, please
I want to find a private loan of 50 thousand, with interest of one point and eight percent, and pay it off in one year. How much is the monthly interest? What's the annual interest rate, please
What we are talking about now is the monthly interest rate 1.8%, so simply put, the annual interest rate is12 *1.8% = 21.6%.

At present, most of them pay interest monthly, and a few pay interest at the end of the year.

50,000 yuan, with monthly interest of 50,000 *1.8% = 900 yuan, and the principal at the end of the year is 50,000 yuan.

If the same amount of principal and interest is paid every month, it will be 4670.2 yuan per month.