700,000 yuan has been used for five days, with interest 1500. How much is the interest for one day?

0.0004。

700,000 yuan has been used for five days, with interest 1500. Calculation method: 1500/700000/5 = 0.0004.

Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds.

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