Annual interest rate = monthly interest rate *12 = 0.72% *12 = 8.64%. The annual interest rate is 8.64%. 10000 yuan, the annual interest is 864 yuan.
Interest refers to the reward that the currency holder (creditor) gets from the borrower (debtor) 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.
Interest is the reward that the fund owner gets from the loan of the fund, which comes from part of the profits formed by the producers using the fund to play their business functions. Refers to the specific value-added amount brought by monetary funds injected and returned to the real economy. The calculation formula is: interest = principal × interest rate × deposit period × 100%.
Extended data:
Theoretical basis of interest
According to Marxism, interest is actually a part of profit and a transformation form of surplus value. The separation of capital ownership and capital use right is the inherent premise of interest generation.
Due to the characteristics of reproduction process, the coexistence of capital surplus and capital shortage is the external condition for 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. Interest, like profit in essence, is the transformation form of surplus value, which reflects the relationship between loan capitalists and functional capitalists who jointly exploit workers.
References:
Baidu encyclopedia-interest