Because your question is relatively simple, I'll give you an example here to illustrate, I hope you can understand.

For example, if the monthly interest rate is 1%, the monthly loan or deposit is 1 00 yuan.

Then the interest for the next month 1 day is 65438+ one year 12 months' total interest in 0 yuan, which is 12 yuan. If it is less than one month, the interest for the remaining days shall be calculated according to the current interest listed in the bank on that day. This is a simple and interesting algorithm.

The calculation of compound interest is complicated, and it is necessary to add the interest after each month and the principal as the principal of the next month to calculate the interest of the next month.

Or take 100 yuan as an example to calculate compound interest. The interest in the first month is 1 yuan principal and interest * * 1 kloc-0/yuan, and the interest in the second month is 1.0 1 principal and interest * *1yuan, and so on.

Second, how to calculate the monthly interest rate of bank loans?

Hello, it's my pleasure to serve you. I am a good girl. I worked in Baidu 13 and served more than 20,000 customers. I see your problem. It's 70,000 yuan. Therefore, the monthly interest rate (annual interest rate), monthly interest rate (monthly interest rate) and daily interest rate (daily interest rate) are actually the same thing, but the time dimensions of calculation are different. Interest rate conversion formula: annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (day); This is too high. The monthly interest rate is 0.67% and the annual interest rate is 8%, which is more than three points higher than that of the bank. More 6 _

3. How to calculate the monthly interest rate of bank loans?

1. Monthly interest rate: 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 and is calculated on a daily basis. The 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 percentage of principal, interest is calculated annually. Calculation method: annual interest rate = interest ÷ principal ÷ time × 100%.

4. Annualized interest rate: refers to the interest rate at which the inherent rate of return of products is discounted to the whole year, which is quite different from the calculation method of annual interest rate. Assuming that the yield of a wealth management product is one year and the yield is B, the annualized interest rate R is calculated as R=( 1B)A- 1.

5. Calculation formula of equal principal and interest: [loan principal × monthly interest rate× (1interest rate) repayment months] ÷ repayment months [( 1 interest rate) repayment months-1]

6. Average fund calculation formula: monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate.

Extended information:

Bank loan refers to an economic behavior in which banks lend funds to people in need at a certain interest rate according to national policies and agree to return them within a specified time limit. Generally, you need a guarantee, a house mortgage, or proof of income, and your personal credit information is good before you can apply.

Moreover, in different countries and different development periods of a country, the types of loans classified according to various standards are also different. For example, industrial and commercial loans in the United States mainly include ordinary loan quotas, working capital loans, standby loan commitments, and project loans. In Britain, industrial and commercial loans are mostly in the form of discounted bills, credit accounts and overdraft accounts.

According to different classification standards, there are different types of bank loans. For example:

1. According to different repayment periods, it can be divided into short-term loans, medium-term loans and long-term loans;

2. According to different repayment methods, it can be divided into demand loans, term loans and overdrafts;

3. According to the purpose or object of the loan, it can be divided into industrial and commercial loans, agricultural loans, consumer loans and securities broker loans.

4. According to the different loan guarantee conditions, it can be divided into bill discount loan, bill mortgage loan, commodity mortgage loan and credit loan.

5. According to the loan amount, it can be divided into wholesale loans and retail loans;

6. According to the different ways of interest rate agreement, it can be divided into fixed interest rate loans and floating interest rate loans, and so on.

Short-term loans refer to loans with a loan term of 1 year (inclusive). Short-term loans are generally used for the liquidity needs of the borrower's production and operation.

The currencies of short-term loans include RMB and major convertible currencies of other countries and regions. The term of short-term working capital loans is generally about half a year, and the longest is no more than one year; Short-term loans can only be extended once, and the extension period cannot exceed the original period.

The loan interest rate is determined according to the interest rate policy formulated by the People's Bank of China and the floating range of the loan interest rate, as well as the nature, currency, use, method, term and risk of the loan, among which the foreign exchange loan interest rate is divided into floating interest rate and fixed interest rate. The loan interest rate is indicated in the loan contract, which customers can check when applying for a loan. Overdue loans will be punished according to regulations.

The advantages of short-term loans are relatively low interest rates and relatively stable capital supply and repayment. The disadvantage is that it cannot meet the long-term capital needs of enterprises. At the same time, because short-term loans use fixed interest rates, the interests of enterprises may be affected by interest rate fluctuations.

4. How to calculate the monthly interest of the loan?

When the monthly interest rate is applicable to the loan, the monthly interest rate = (loan principal-repaid principal) × monthly interest rate. If your loan principal is 1000 yuan, which is the first repayment, the repayment principal is 0, and the monthly interest rate is 1%, then the interest is1000×1%=10 yuan.