When the annual interest rate of the loan is 5%, the loan interest calculated by different repayment methods is different.
Repayment methods include: matching principal and interest, average capital, and one-time repayment of principal and interest when due. The final interest generated by these three methods is different, and the applicable situation is also different. Lenders can choose the most suitable repayment method according to their actual situation.
When the annual interest rate of the loan is 5%, if the loan principal is 654.38 million yuan, the loan term is one year.
(1) Repay the principal in equal amount, and the calculation formula is: total interest = (repayment months 1)x loan amount x monthly interest rate /2, so the total interest is 2708.33 yuan, and the repayment amount in the first month is 8750 yuan, which will decrease every month thereafter.
(2) Repay the loan according to the equal principal and interest, and the calculation formula is: total interest = repayment months x monthly repayment amount-loan principal, so the total interest is 2728.98 yuan, and the monthly repayment amount is 8560.75 yuan.
(3) When the principal and interest are repaid at one time, the total interest is: loan principal x annual interest rate x loan term = 1000005%=5000 yuan.
Interest rate refers to the ratio of interest amount to deposit principal or loan principal within a certain period. Usually expressed as a percentage. According to the different standards during the measurement period, it is generally divided into annual interest rate, monthly interest rate and daily interest rate.
Annual interest rate: refers to the interest rate of a deposit or loan for one year, that is, the ratio of the annual interest amount to the deposit principal or loan principal, which is mainly used to calculate interest. Different annual interest rates are different. Generally expressed as a percentage of the principal.
Monthly interest rate: refers to the interest rate of a month's deposit or loan. Monthly interest. Generally expressed as a few thousandths of the principal.
Daily interest rate: also known as daily interest rate or daily interest rate, it refers to the ratio of the daily interest amount of deposits and loans to the amount of borrowing money. Generally expressed as a few ten thousandths of the principal.
Interest rate is the main factor that determines the capital cost of enterprises, and it is also the decisive factor for enterprises to raise funds and invest. To study the financial environment, we must pay attention to the current situation and changing trend of interest rates.
How to calculate interest at an annual interest rate of 5%
Interest is calculated according to the loan interest rate. Give you a formula, you can calculate it yourself.
The annual loan interest is equal to the loan principal multiplied by the annual loan interest rate.
For example, if the annual interest rate is 10%, then the annual interest is 50000 10% = 50000 yuan, and the annual interest is 500005=250000 yuan.
Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital.
Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit.
definition
1. Money other than the principal of deposits and loans (different from "principal").
2. The abstract interest point refers to the value added when monetary funds are injected into the real economy and returned. Generally speaking, interest refers to the remuneration paid by the borrower (debtor) to the lender (creditor) for using the borrowed currency or capital. Also known as the symmetry between the sub-fund and the parent fund (principal). The calculation formula of interest is: interest = principal × interest rate × deposit period (i.e. time).
Interest is the reward that the fund owner gets for lending the fund, which comes from a part of the profits that the producer makes by using the fund to play its operational functions. Refers to the value-added amount brought by monetary funds injected into the real economy and returned. The calculation formula is: interest = principal × interest rate × deposit period × 100%.
3. Classification of bank interest
According to the different nature of banking business, it can be divided into bank interest receivable and bank interest payable.
Interest receivable refers to the remuneration that the bank obtains from the borrower by lending to the borrower; It is the price that the borrower must pay for using the funds; It is also part of the bank's profits.
Interest payable refers to the remuneration paid to depositors by banks to absorb their deposits; It is the price that banks must pay to absorb deposits, and it is also part of the cost of banks.
theoretical basis
Marx's Political Economy Viewpoint
According to Marxism, interest is actually a part of profit and a transformation form of surplus value. Money itself cannot create money, nor will it increase in value. Only when functional capital purchases means of production and labor with money can it create surplus value through the labor of hiring workers in the production process. Monetary capitalists share surplus value with functional capitalists by virtue of capital ownership. Therefore, the separation of capital ownership and capital use right is the inherent premise of interest generation.
Due to the characteristics of reproduction process, capital surplus and * * * exist at the same time, which is the external condition of interest generation. When money is possessed by capitalists and used as a means to exploit the surplus value of hired workers, it becomes capital. Money performs the function of capital and gains additional use value, that is, the ability to produce average profits.
All capitalists are driven by the interests of pursuing surplus value, and profits are converted into average profits. The average profit is divided into interest and income of business owners, which are owned by different capitalists. Therefore, interest, like profit in essence, is the transformation form of surplus value, which reflects the relationship between borrowing capitalists and functional capitalists and exploiting workers. interest
Western economic viewpoint
The theory of actual interest is the actual restraint of remuneration and actual qualifications. Interest theory has always been in a dominant position in the field of interest research.
Monetary interest theory holds that interest is the cost of borrowing money and selling securities, as well as the income from lending and buying securities. As a monetary phenomenon, Chinese scholars believe that in a socialist society with public ownership as the main body, interest comes from the value-added part of national income or social wealth. In real life, interest is regarded as a general form of income, which leads to the capitalization of income.
How to calculate interest at an annual interest rate of 5%?
The calculation formula of interest is interest = principal × interest rate × deposit time. If the deposit is 10000 yuan and the annual interest rate is 5%, then the annual interest rate is 100005%=500 yuan. Monthly interest and daily interest can also be calculated by annual interest rate. One month's interest is100005%/12 = 41.6 yuan, and one day's interest is 100005%/360= 1.38 yuan.
The deposit interest rate of general banks is uniformly issued by the central bank, and banks will fluctuate on this benchmark according to their own standards, while the interest rate of general private banks or small-scale banks will generally be higher.
For the calculation of interest, there are three situations:
1. The interest period is a whole year or a whole month. Interest is the principal multiplied by the number of years (months) and then multiplied by the interest rate.
2. If the interest period is a whole year or a whole month with odd days, the interest is the principal multiplied by the number of years (months) and then multiplied by the interest rate, plus the interest on odd days, and the interest on odd days is the principal multiplied by the odd days and then multiplied by the daily interest rate.
3. If the bank chooses to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap year), each month is the actual days in the Gregorian calendar of the current month, and interest is the principal multiplied by the actual days and then multiplied by the daily interest rate.
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How much is the interest of 10 thousand yuan and five cents a month?
Ten thousand yuan and five cents interest, one day interest 16.67 yuan, one month interest 500 yuan.
One-cent interest is a folk expression habit of interest rate. One-cent monthly interest 1%, namely 100 yuan and 1 yuan interest, so the monthly interest of 10000 yuan is 100 yuan, and the total principal and interest is10/00 yuan.
First, there are usually the following three expressions of interest:
"Ten cents annual interest" means borrowing one yuan and paying ten cents interest at the end of the year, that is, the annual interest rate 10%.
"One cent monthly interest" means borrowing one yuan and paying one cent interest every month, that is, the monthly interest rate is 1% or 10‰.
"One cent per day" or one cent per day means borrowing one yuan and paying one cent interest every day. Daily interest rate 1%. If you borrow one hundred dollars, you will get one yuan interest every day, with a monthly interest rate of 30% and an annual interest rate of 360%. This is a very, very high interest rate.
2. Interest refers to the remuneration that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit.
Third, the amount of interest depends on three factors: principal, deposit period and interest rate level.
The calculation formula of interest is: interest = principal x interest rate x deposit term.
4. According to State Taxation Administration of The People's Republic of China Guoshuihan [2008] No.826, since June 9, 2008, personal income tax on savings deposit interest is temporarily exempted. Therefore, the interest tax on savings deposits is temporarily exempted.
calculate
(1) The interest rate conversion formula for RMB business is (note: common for deposits and loans):
1. daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (‰)÷30.
2. Monthly interest rate (‰) = annual interest rate (%)÷ 12
(two) banks can use the product interest method and the transaction interest method to calculate interest.
1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:
Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.
2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:
If the interest-bearing period is a whole year (month), the interest-bearing formula is:
① Interest = principal × year (month )× year (month) interest rate
If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:
② Interest = principal × year (month) × year (month) interest rate principal × odd days × daily interest rate.
At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:
③ Interest = principal × actual days × daily interest rate
These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year, when calculating the actual daily interest rate, it will be calculated as 365 days a year, and the result will be slightly biased. Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.
(3) Compound interest: Compound interest means adding interest at a certain interest rate. According to the regulations of the central bank, if the borrower fails to repay the interest at the time agreed in the contract, it will be charged with compound interest.
(4) Penalty interest: If the lender fails to repay the bank loan within the prescribed time limit, the penalty interest paid by the bank to the defaulter according to the contract signed with the parties is called bank penalty interest.
(V) loans overdue liquidated damages: penalties for the defaulting party with the same nature as penalty interest.