The annual interest rate is generally% (percentage), and the monthly interest rate is generally expressed as ‰ (one thousandth); The daily interest rate is expressed as a few tenths of the principal, which is usually called a few cents.

If the annual interest rate is 6.5%, taking the principal of 1 ten thousand yuan as an example, the annual interest is 650 yuan.

According to the formula, interest = principal * interest rate.

Substituting the data, we can get the formula:

Interest = 10000*6.5%=650 yuan.

Extended data:

Compared with other financing methods, the main disadvantages of bank loans are:

1, harsh conditions, too many restrictive clauses, too complicated procedures, time-consuming and laborious. Sometimes I may not run for a year.

2, the loan period is relatively short, and long-term investment rarely receives money.

3. The loan amount is relatively small, so it is difficult to solve all the funds needed for enterprise development through banks. Especially in the early stage of entrepreneurship, the loan risk is very high, and it is difficult to obtain bank loans.

Bank loan tips:

Seek floating interest rate and minimum loan cost: Due to different pricing strategies of financial products, the interest rates of the same loan type in different banks are also different. In addition to choosing the interest rate level, other factors must be considered, such as whether the loan must pay the handling fee, whether to evaluate the collateral and other factors that may lead to increased costs.

The difference between different repayment methods can reach 65,438+00,000 yuan: banks provide a variety of flexible loan repayment methods, including "average monthly repayment" and "average monthly principal repayment". The difference in monetary cost of different repayment methods can reach tens of thousands of yuan.

Baidu encyclopedia-monthly interest rate