The daily interest rate is the interest calculated on a daily basis, expressed as a few ten thousandths of the principal, usually called a few cents a day. If the daily interest rate is 1%, that is, the principal is 1 yuan and the daily interest rate is 1%. (1% =0.00 1 yuan, 10 cents =0.000 1 yuan).
1, calculation formula. Daily interest rate _ annual interest rate ÷360= monthly interest rate ÷30
2. significance. The daily interest rate is widely used in large enterprises, banks, securities companies or other non-financial institutions for large short-term financing. Because the amount of funds related to these institutions is particularly large, even if the daily interest rate is relatively low and the base is large, the calculated daily interest rate is huge and cannot be ignored in financial processing. ：
I. Conversion formulas of daily interest rate, annual interest rate and monthly interest rate:
1, daily interest rate (0/000)= annual interest rate (0/0) ÷ 360;
2. Monthly interest rate (0/00)= annual interest rate (0/0)÷ 12.
3. Monthly interest rate = daily interest rate ×30
4. Annual interest rate = monthly interest rate × 12.
5. Interest = interest product × daily interest rate
Second, the formula
1, daily interest rate = daily interest deposit (loan) amount X 100%
2. Daily interest rate = monthly interest rate ÷30
3. Daily interest rate = annual interest rate ÷360 3% refers to the interest rate of 0.3%. Interest here is also the abbreviation of interest rate, which is usually called interest rate.
For loans, we must first understand several concepts: principal, term and interest rate. The principal is the amount of money you want to borrow. The time limit is only one month, three months or one year. The interest rate must first determine the amount, and then determine the date, month or annual interest rate.
As for the 3% interest rate mentioned at the beginning, it is necessary to determine whether it is a daily interest rate, a monthly interest rate or an annual interest rate. So we can work out how much interest we have to pay back.
For example, the principal we borrowed is 10000 yuan, and the annual interest rate is 3%, but this 3% interest rate is the daily interest rate. Find out how much interest you have to pay after one year. The annual interest rate is equivalent to 0.3% × 365 = 1.095, and the annual interest is1000×1.095 =10950 yuan. After one year, the interest with principal is10000+10950 = 20950 yuan; For example, but this 3% interest rate is a monthly interest rate. Find out how much interest you have to pay after one year. If the annual interest rate is calculated first, it is equivalent to 0.3% × 12 = 3.6%, and the annual interest rate is 10000×3.6%=360 yuan. After one year, the interest with principal is 10000+360 = 10360 yuan; For example, but this 3% interest is the annual interest rate. Find out how much interest you have to pay after one year. The annual interest is 10000×0.3%=30 yuan. After one year, the interest with principal is 10000+30 = 10030 yuan.