If it is a private loan, the monthly interest rate of the loan is 30 million, and the annual interest rate is 30002%,12 = 7.2 million yuan.

How much is the interest of 2 cents a year for a loan of 23,000 yuan?

The annual interest rate is: 7200 yuan.

Calculation method: annual interest rate = monthly interest rate × 12=2%× 12=24.

Annual interest rate = principal × annual interest rate =30000×24%=7200.

Interest refers to the reward that the currency holder (creditor) gets from the borrower (debtor) for lending money or monetary capital.

The calculation formula of interest is: interest = principal × interest rate × deposit period.

For example, if someone borrows 120000 yuan with an annual interest rate of 8%, the annual interest he needs to pay is 120000×8% = 9600 yuan.

If someone deposits 120000 yuan with an annual interest rate of 3%, he can get annual interest of 120000×3% = 36000 yuan.