Calculation process:
3% generally means that the monthly interest rate is 0.3%, so the annual interest rate is 0.3%* 12=3.6%.
If it is a simple interest calculation, interest = loan amount * loan interest rate * loan time =150000 * 3.6% * 3 =16200 yuan. Monthly repayment interest = 150000*0.3%=450 yuan.
If calculated by compound interest, the sum of principal and interest after three years is150000x (1+3.6%) 3 =166790.2 yuan, and the total interest is 16790.2 yuan.
However, generally speaking, loans are calculated on the basis of simple interest. If the answer is 450 yuan every month, the total interest is 16200 yuan.
The separation and combination in private lending is a kind of interest rate unit, which depends on whether the monthly interest rate or the annual interest rate is stated in the contract. If it is the annual interest rate, 1% means the annual interest rate is1%; If it is a monthly interest rate, 1% means that the monthly interest rate is 0. 1% and the annual interest rate is 1.2%. If the time unit is not specified in the contract, it is generally agreed to calculate the interest rate on a monthly basis.
Matters needing attention in calculating interest:
1. When calculating interest, the days of deposit should be counted as the beginning rather than the end, that is, from the date of deposit to the day before withdrawal; 2. No matter leap year, average year or month size, the whole year is 360 days, and every month is 30 days;
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 date of deposit to the same day of the following year is a pair of years, and the date of deposit to the same day of next month is a pair of months;
4. Maturity date of time deposit. For example, if the legal holiday office is closed, you can withdraw money one day in advance, and the interest will be calculated according to the 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 term should correspond to the interest rate, not necessarily the annual interest rate, but also the daily interest rate and the monthly interest rate.