References:
1. installment repayment:
Installment repayment refers to the repayment of a loan in multiple installments. The cost of each repayment includes the principal and interest of the loan, and individual platforms will also charge installment fees. Installment repayment is generally used for large loans, which is based on the customer's ability to repay due to work and other factors. In order to avoid penalty interest, banks or financial institutions will let customers repay in full installments according to the loan. Generally speaking, the fewer installments, the lower the repayment cost. However, it should be noted that the handling fee and interest rate of installment loans for entertainment consumption (especially financial institutions) are higher than the loan interest rate for the same period. Therefore, we must try our best to avoid unnecessary installment loans brought by early consumption, so as not to fall into economic crisis.
2 interest:
In pursuit of profit, some people or institutions will ask for a certain reward or a certain fee after lending a certain amount of funds to others or institutions in order to obtain the right to use the funds, which will turn into interest over time. Current interest includes deposit interest, loan interest and interest generated by various bonds. As the use price of funds, interest can be divided into interest payable and interest receivable, which is relative to debtors and creditors. Through this special relationship, interests can play a huge role in the whole economic operation system. First, the level of interest will affect people's use of funds. If you deposit money in the bank, you can get the interest that the bank should pay. When interest rates increase, people tend to reduce funds for savings, which will reduce the activity of the market and have a more obvious impact on the business activities of enterprises. The state controls the macro-economy through the reasonable adjustment of interest rates by the central bank.