7.8% refers to the monthly interest rate (the exact figure is 7.08333 ...), 7% is a common name, and the expression in the bank is 7.08333‰ (7.08333 ‰).
The results of this 7% are as follows: interest/principal = annual interest rate of one year, 850/ 10000=8.50% (annual interest rate); Annual interest rate/12= monthly interest rate, 8.50%/ 12 = 7.08333...‰, which is 7.08333 ‰ in the bank and 7 ‰ in the private sector.
The monthly interest of a loan of 10000 yuan is: 10000*7.08333‰=70.83333 yuan.
The annual interest on the loan of 10000 yuan is 70.83333 * 12 = 849.99996 yuan (850 yuan).
You can also convert the monthly interest rate into annual interest rate: 7.08333‰* 12=9.3996%, so the annual interest of a loan of 10000 yuan is 10000*9.3996%=939.96 yuan (850 yuan).
Extended data:
How to calculate the loan interest of the bank?
Loan interest: refers to the reward that the lender gets from the borrower for issuing monetary funds, and it is also the price that the borrower must pay for using the funds. Loans can be mortgaged (real estate, etc.). ) or through secured loans, the latter with a smaller loan amount.
Calculation method of bank loan interest: Generally, compound interest is calculated on a monthly basis.
There are two ways to repay by installments: one is equal principal and interest, and the other is average capital. Short-term repayment can also be a one-time repayment of principal and interest.
Let's take a bank loan of 60,000 yuan a year (12 months) as an example. According to the current annual loan interest rate of 5.3 1% (monthly interest rate: 5.31%12 = 0.4425%), how to calculate the loan interest under different calculation methods is described in detail:
1, one-time repayment of principal and interest, total principal and interest:
60000 * (1+0.4425%)12 = 63264.69 yuan.
2. Repay the equal principal and interest in installments. Matching principal and interest repayment means that the repayment amount of each installment (month) is the same, and the calculation method is as follows:
60,000 yuan, 1 year (12 months), monthly repayment amount: [60,000 * 0.4425% * (1+0.4425%)12]/[(1+)
Total repayment: 5144.98 * 12 = 61739.76 yuan (note: 12 is12 power).
3. Repayment by installments, with equal principal repayment as unequal interest repayment. It is the kind that is getting less and less. The principal paid every month is the same, and the interest is decreasing.
60,000 yuan, 1 year (12), the monthly repayment of the principal is the same: 60,000 yuan/12 = 5,000 yuan.
First month repayment = first month principal+first month interest:
Repayment: 5000+60000*0.4225%=5253.50.
Repayment in the second month: 5000+(60000-5000) * 0.4225% = 5232.38.
Payment in the third month: 5000+(60000-5000 * 2) * 0.4225% = 5211.25.
etc
Nth month repayment: 5000+[60000-5000 * (n-1)] * 0.4225%.
Total interest: 6 1725.75
The calculation results are as follows:
1 month, 5265.5 yuan.
February 5,243.38 yuan
March 522 1.25 (yuan)
April 5 199. 13 (yuan)
May 5 177 (yuan)
June 5 154.88 (yuan)
July 5 132.75 (yuan)
August 5 1 10.63 yuan.
In September, 5088.5 yuan
10 month, 5066.38 yuan.
1 1 month, 5044.25 (yuan)
65438+ February, 5022. 13 (yuan)
There are three factors that determine loan interest: loan amount, loan term and loan interest rate.
Loan interest = loan amount * loan interest rate * loan term = loan amount * loan interest rate * loan term = loan amount * days * daily interest rate = loan amount * months * monthly interest rate = loan amount * years * annual interest rate.
Loan days = month *30 days+odd days (for example, 65438+ 10/until May 24th, it is 4 * 30+24 = 1 44 days).
Daily interest rate = annual interest rate /360
Monthly interest rate = annual interest rate/12
Note: The benchmark loan interest rates announced by the central bank are all annual interest rates.
Baidu encyclopedia-interest
Baidu encyclopedia-interest calculation formula
1 10,000 7.8 How much interest is it every month?
Ten thousand yuan is calculated at the interest rate of 7.8%, and the monthly interest is 78 yuan.
As an interest rate, Li is often used by people. The annual interest rate of 1% is one percent per year, and the monthly interest rate of 1% is one thousandth per month.
7% 8 means the monthly interest rate, which is 0.78%.
Interest = principal * monthly interest rate, monthly interest10000 =10000 * 0.78% = 78 yuan.
Extended data:
Interest rate refers to the ratio of the amount of interest to the amount of borrowed funds, that is, the principal, in a certain period of time. Interest rate is the main factor that determines the capital cost of enterprises, and it is also the decisive factor for enterprises to raise funds and invest. To study the financial environment, we must pay attention to the current situation and changing trend of interest rates.
Generally speaking, interest rates are expressed by annual interest rate, monthly interest rate and daily interest rate.
The loan interest is 7.8%, and the loan is 654.38 million yuan. How much is the monthly interest?
The loan interest is 7.8%, the loan amount is 654.38 million yuan, and the monthly interest is 780 yuan.
7.8% refers to the monthly interest rate, that is, 0.78% annual interest rate: 0.78%* 12=9.36% monthly interest rate: 100000*0.78%=780 annual interest rate:100000 * 9.36% = 933.
Calculation of loan interest:
I. The interest rate conversion formula for RMB business is (note: common for deposits and loans):
1, daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (‰)÷30.
2. Monthly interest rate (‰) = annual interest rate (%)÷ 12.
Two, banks can use product interest method and transaction interest method to calculate interest.
1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is: interest = accumulated interest-bearing products × daily interest rate, where accumulated interest-bearing products = total daily balance.
2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:
(1) If the interest-bearing period is a whole year (month), the interest-bearing formula is: interest = principal × year (month )× year (month) interest rate.
(2) If the interest period has a whole year (month) and odd days, the interest formula is: interest = principal × number of years (months) × annual (month) interest rate+principal × odd days × daily interest rate.
(3) At the same time, banks can choose to convert the interest period into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is: interest = principal × actual days × daily interest rate.
These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year. However, when calculating the actual daily interest rate, it will be calculated according to 365 days a year, and the result will be slightly biased. Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.
In 2004, the central bank released the floating range of bank loan interest rate, and the upper limit of bank loan interest rate was no longer limited, and the lower limit was 0.9 times of the benchmark interest rate. However, there is still an upper limit on the loan interest rate of credit cooperatives, which requires that the upper limit of the loan interest rate of credit cooperatives should not be higher than 2.3 times the benchmark interest rate.
In 20 13, upon approval, the People's Bank of China fully liberalized the loan interest rate control of financial institutions from July 20th, 20 13, and cancelled all the restrictions involved in the lower limit of loan interest rate, discounted bill interest rate and upper limit of loan interest rate of rural credit cooperatives.
20 15 the bank changed the interest rate to the one-year benchmark interest rate of 4.35%. The People's Bank of China decided to lower the benchmark interest rates of RMB loans and deposits of financial institutions from 20 15124, to further reduce the social financing costs.
Among them, the benchmark interest rate for one-year loans of financial institutions was lowered by 0.25 percentage points to 4.35%; The benchmark interest rate for one-year deposits was lowered by 0.25 percentage point to1.5%; The benchmark interest rates of other loans and deposits and the lending rates of the People's Bank of China to financial institutions are adjusted accordingly; The interest rate of individual housing provident fund loans remains unchanged.