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If you borrow 50 thousand, the annual interest rate is 4% If I borrow it for eight months, how much interest do I have to pay?
If you borrow 50 thousand, the annual interest rate is 4% If the loan is borrowed for 8 months, the interest payable is 1, 333.33 yuan.

If the principal of your loan is 50,000 yuan and the interest is 4%, that is, the annual interest rate is 4%, then your annual interest is 2,000 yuan.

50000×0.04=2000

Then the monthly interest is

2000/ 12= 166.67 yuan

The interest for eight months is

166.67*8= 1333.33