Current location - Loan Platform Complete Network - Loan intermediary - Borrowed 5000, with a monthly interest rate of 3%. What is the annual interest rate? If interest is not added, is the second year 180?
Borrowed 5000, with a monthly interest rate of 3%. What is the annual interest rate? If interest is not added, is the second year 180?
Generally speaking, the monthly interest rate is 3%, that is, the monthly interest rate is 0.3%. The annual interest of normal loan repayment is: interest = principal × interest rate× term = 5000× 0.3% ×12 =180 yuan.

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