The annualized rate is 10.8%. How much is the interest for the first year of 10 thousand?
1080 yuan. According to the annualized rate, 10000 times 10.8% equals 1080 yuan. Annualized interest rate refers to the interest rate discounted to the whole year through the inherent rate of return of products. On March 3, 20021March 3 1 day, the People's Bank of China issued an announcement to make relevant provisions on the annualized interest rate of loan products.