Expression of annual, monthly and daily interest rates of deposits and loans:
(1) The annual interest rate is the annual interest. The annual interest rate is expressed as a percentage of the principal. Ten percent is an interest. 1% is one centimeter.
(2) The monthly interest rate is the interest calculated on a monthly basis. The monthly interest rate is expressed as a few thousandths of the principal. One ten thousandth is the dividend, that is, 1% is 1.
(3) The daily interest rate is the interest calculated on a daily basis. The daily interest rate is expressed as a few ten thousandths of the principal. Ten ten thousandths is the dividend, that is, 0. 1% is 1.
(4) Annual interest rate/12 = monthly interest rate, and daily interest rate × 365 = annual interest rate.
Calculation formula: daily interest rate _ annual interest rate ÷360= monthly interest rate ÷30. Relationship between annual interest rate and monthly interest rate: monthly interest rate = annual interest rate/12, annual interest rate = monthly interest rate × 12.
Matters needing attention when calculating bank deposit or loan interest:
1. When calculating interest, the number of days of deposit is calculated at the beginning, not at the end, that is, from the date of deposit to the day before withdrawal; 2, regardless of leap year, average year, regardless of the size of the month, 360 days a year, 30 days a month;
3. Calculated by year, month and day, the maturity date of various time deposits shall be subject to year, month and day. That is, from the deposit date to the same day of the following year is a pair of years, and the deposit date to the same day of next month is a pair of months;
4. Maturity date of time deposit. For example, if you don't work on legal holidays, you can withdraw one day in advance and calculate interest at maturity. The procedure is the same as that of early withdrawal.
The calculation formula of interest: principal × annual interest rate (percentage) × deposit period. If the interest tax is ×( 1-5%), the total principal and interest = principal+interest, and the calculation formula of accrued interest is: accrued interest = principal × interest rate × time. Accrued interest shall be accurate to two decimal places, and the number of interest-bearing days shall be calculated according to the actual holding days. PS: The deposit period should correspond to the interest rate, not necessarily the annual interest rate, but also the daily interest rate and the monthly interest rate.