If the loan is 65,438+0,000 yuan, one-month interest expense = 65,438+00000 * 0.006 = 60 yuan, and one-year interest expense = 60 * 65,438+02 = 720 yuan.
Interest:
concept
Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds.
Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit.
definition
1. Money other than the principal of deposits and loans (different from "principal").
2. The abstract interest point refers to the value added when monetary funds are injected into the real economy and returned.
Generally speaking, interest refers to the remuneration paid by the borrower (debtor) to the lender (creditor) for using the borrowed currency or capital. Also known as the symmetry of sub-fund and parent fund (principal).
3. The calculation formula of interest is: interest = principal × interest rate × deposit period (i.e. time).
4. Interest is the reward that the fund owner gets for lending the fund, which comes from part of the profits formed by the producers using the fund to play their operational functions. Refers to the value-added amount brought by monetary funds injected into the real economy and returned. The calculation formula is: interest = principal × interest rate× time x 100%.
5. Classification of bank interest
According to the different nature of banking business, it can be divided into bank interest receivable and bank interest payable.
Interest receivable refers to the remuneration that the bank obtains from the borrower by lending to the borrower; It is the price that the borrower must pay for using the funds; It is also part of the bank's profits.
Interest payable refers to the remuneration paid to depositors by banks to absorb their deposits; It is the price that banks must pay to absorb deposits, and it is also part of the cost of banks.
deposit
Deposit refers to the depositor's temporary transfer or deposit of funds or currency in banks or other financial institutions, or the temporary transfer of the right to use funds or currency to banks or other financial institutions. It is the most basic and important financial behavior or activity and the most important source of credit funds for banks.