According to the meaning of the question, the loan principal is 10000 yuan, that is, 10000 yuan, with an annual interest rate of 6.3%.
According to the formula, annual interest rate = principal * annual interest rate.
Substituting into the formula, you can get the formula:
Annual interest rate = 10000*6.3%=630 yuan.
Extended data:
Conversion formula of daily interest rate, annual interest rate and monthly interest rate:
Monthly interest rate = daily interest rate ×30
Annual interest rate = monthly interest rate × 12
Interest = interest product × daily interest rate
Daily interest rate = daily interest deposit (loan) X 100%
Daily interest rate =? Monthly interest rate ÷30
Daily interest rate =? The annual interest rate is 360.
The amount of interest depends on three factors: principal, deposit period and interest rate level.
The calculation formula of interest is: interest = principal x interest rate x deposit term.
According to People's Republic of China (PRC) State Taxation Administration of The People's Republic of China Guoshuihan [2008] No.826, since June 9, 2008, personal income tax on savings deposit interest is temporarily exempted, so the interest tax on savings deposit interest is temporarily exempted at present.
Matters needing attention in loan:
1. When applying for a loan, the borrower makes a correct judgment on his economic strength and repayment ability according to the loan interest rate. Design a repayment plan according to your income level, leaving room appropriately, without affecting your normal life.
2. Choose the appropriate repayment method. There are two repayment methods: equal repayment and equal principal repayment. Once the repayment method is agreed in the contract, it shall not be changed during the whole loan period.
3. Repay on time every month to avoid penalty interest. From the month after the loan is initiated, it is generally the repayment date of the next month. Don't cause liquidated damages because of your negligence, so that banks can't apply for loans again.
4. Take good care of your contracts and IOUs, read the terms of the contracts carefully, and know your rights and obligations.
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