According to the meaning of the question, the loan principal = 20,000 yuan and the daily interest rate =0.066=6.6%.
According to the formula, daily interest = principal * daily interest rate.
Substituting the data in the question, we can get the formula:
Daily interest =20000*6.6%= 1320 (yuan)
A month is 30 days, which can be obtained by multiplication and expression:
Monthly interest = 1320*30=39600 (yuan)
Extended data:
Conversion formula of daily interest rate, annual interest rate and monthly interest rate:
Monthly interest rate = daily interest rate ×30
Annual interest rate = monthly interest rate × 12
Interest = interest product × daily interest rate
Daily interest rate = daily interest deposit (loan) amount X 100%
Daily interest rate =? Monthly interest rate ÷30
Daily interest rate =? The annual interest rate is 360.
Influencing factors of interest rate:
1, central bank policy
Generally speaking, when the central bank expands the money supply, the total supply in loanable funds will increase, the supply exceeds demand, and the natural interest rate will decrease accordingly; On the contrary, the central bank implements a tight monetary policy, reducing the money supply, so that loanable funds's demand exceeds supply, and interest rates will rise accordingly.
2. Price level
Market interest rate is the sum of real interest rate and inflation rate. When the price level rises, the market interest rate also rises accordingly, otherwise the real interest rate may be negative. At the same time, due to rising prices, the public's willingness to deposit will decrease, while the loan demand of industrial and commercial enterprises will increase. The imbalance between deposit and loan caused by loan demand exceeding loan supply will inevitably lead to an increase in interest rates.
3. Stock and bond markets
If the securities market is on the rise, the market interest rate will rise; On the contrary, interest rates are relatively low.
4. International economic situation
Changes in a country's economic parameters, especially the exchange rate and interest rate, will also affect the fluctuation of interest rates in other countries. Naturally, the rise and fall of the international securities market will also bring risks to the interest rates faced by international banking business.
Multiplication algorithm
1, integer
(1) Multiplies the first factor by the number on each bit of the second factor from the cell;
(2) Multiply by the number on the second factor, and the last digit of the number is aligned with the second factor;
(3) adding the multiplied numbers for multiple times;
2. Decimals
(1) Find the product first according to the law of integer multiplication;
(2) Look at a factor * * *, how many decimal places there are, and count the decimal points from the right side of the product.
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