What is the monthly interest rate of 0.75%?
The monthly interest rate of 0.75% is equivalent to an annual interest rate of 9%. The monthly interest of 10,000 yuan is 75 yuan, and the annual interest is 900 yuan.
Calculation formula: daily interest rate = annual interest rate ÷ 360 = monthly interest rate ÷ 30; conversion formula of daily interest rate, annual interest rate and monthly interest rate: daily interest rate (0/000) = annual interest rate (0/0) ÷360; monthly interest rate (0/00) = annual interest rate (0/0) ÷12. Monthly interest rate = daily interest rate × 30; annual interest rate = monthly interest rate × 12; interest = interest accumulation × daily interest rate. How much is the monthly interest rate of 0.75% and the annual interest rate?
The monthly interest rate of 0.75% is converted into an annual interest rate of 9%. According to relevant public information, the monthly interest rate is 0.75%, which is equivalent to an annual interest rate of 9%. The monthly interest for 10,000 yuan is 75 yuan, and the annual interest is 900 yuan. What is the monthly rate of 0.75%
1. The monthly rate is 0.75%, that is, the monthly interest rate is 0.75%
2. The monthly interest rate refers to the interest calculated based on the monthly interest calculation period, which is 0.75 %, the monthly interest rate is expressed as a few thousandths of the principal, for example, 0.075%, the monthly interest rate is 0.075. If it is a loan, then if you borrow 100 yuan, the interest paid after one month will be 0.75 yuan.
Monthly fee The interest rate refers to the ratio of payment fees; and the monthly interest rate refers to the ratio of interest amount to principal within a certain period of time. 2. Different fee collection methods
Generally speaking, if the fee is calculated according to the "rate", the fee is paid in one lump sum; while if the interest is calculated according to the "interest rate", most of the fees are repaid in installments.
3. Different scopes of application
The monthly rate is mostly used in the calculation of credit card installment fees; while the monthly interest rate is mostly used in loans.
4. The settlement methods for early repayment are different
Generally, the “rate” calculated is mostly handling fee. Even if it is early repayment, the borrower must settle this fee. For interest calculated based on the "interest rate", if the borrower intends to repay early, the interest will generally be settled until the day of early repayment.
The relationship between monthly interest rate and annual interest rate
The relationship between annual interest rate and monthly interest rate: Monthly interest rate = annual interest rate / 12, annual interest rate = monthly interest rate * 12. For example, if the annual interest rate is 7.05%, converted into a monthly interest rate, it is 7.05%/12=5.875‰ (Generally, banks use monthly interest rates to express interest rates in mortgage contracts).
The monthly fee is in the form of repayment in each installment based on the initial loan amount. As for the monthly interest rate calculation method for equal amounts of principal and interest, the interest will decrease as the principal repayment decreases, so the overall interest will be correspondingly lower.
Interest rate refers to the ratio of the amount of interest to the amount of borrowed funds (principal) within a certain period of time. Interest rate is the main factor that determines the cost of an enterprise's capital. It is also a decisive factor in enterprise financing and investment. Research on the financial environment must pay attention to the current status of interest rates and their changing trends
Interest rate refers to borrowing, depositing or borrowing money. The ratio of the amount of interest due each period on the amount (called the total principal) to the par value. The total interest on the amount lent or borrowed depends on the total principal amount, the interest rate, the frequency of compounding, and the length of time it is lent, deposited, or borrowed. Interest rate is the price a borrower pays for borrowing money, and it is the return the lender earns from lending to the borrower by delaying his or her consumption. The interest rate is usually calculated as a percentage of the one-year interest to the principal. What is the monthly loan interest rate of 0.75?
75 yuan.
Monthly interest = principal * monthly interest rate * number of months = 10000 * 0.75% * 1 = 75 yuan.
(1) Interest of ten thousand yuan per month
=principal*monthly interest rate*number of months
=10000*0.75%*1
=75 yuan
(2) Interest of ten thousand yuan per year
=principal*monthly interest rate*number of months
=10000* 0.86%*12
=1032 yuan
Extended information:
Deposit period calculation regulations
1. The beginning does not count the tail. When calculating interest, the number of days of deposit will not count, that is, from the date of deposit to the day before withdrawal;
2. Regardless of leap years or ordinary years, regardless of the big or small month, the whole year will be calculated as follows: 360 days, each month is calculated as 30 days;
3. Calculated based on year, month, and day. The maturity dates of various time deposits are based on year, month, and day. .
That is, from the date of deposit to the same day of the same month of the next year, it is a pair of years, and from the date of deposit to the same day of the next month, it is a pair of months;
4. The expiration date of regular savings. For example, if you are not working during a legal holiday, you can If you withdraw one day in advance, interest will be calculated as if it is due, and the procedures are the same as for withdrawing in advance.
The formula for calculating interest is: principal × annual interest rate (percentage) × deposit period
If interest tax is charged, then × (1-5%)
Principal and interest Total = principal + interest
Reference: Baidu Encyclopedia—Interest Calculation Formula