1. monthly interest rate: that is, the interest calculated on a monthly basis. The calculation method is: monthly interest rate = annual interest rate ÷ 12 (month).
2. Daily interest rate: The daily interest rate is called the daily interest rate, which is calculated on a daily basis. Its calculation method is: daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days).
3. Annual interest rate: usually in the form of a percentage of the principal, the interest is calculated in years. The calculation method is: annual interest rate = interest ÷ principal ÷ time × 100%.
4. Annualized interest rate: refers to the interest rate that the product's inherent rate of return is discounted to the whole year, which is quite different from the calculation method of annual interest rate. Assuming that the return period of a wealth management product is one year and the yield is B, then the annualized interest rate R is calculated as r = (1+b) A- 1.
5. Calculation formula of equal principal and interest: [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months ]⊙[( 1+ monthly interest rate )× repayment months]
6. Calculation formula of average fund: monthly repayment amount = (loan principal ÷ repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
Extended data:
Calculation method of bank loan interest:
At present, there are two main repayment methods for buying a house by loan: equal principal and interest and average principal.
Matching principal and interest repayment method: