360 IOUs are regular and have low interest rates. The interest rates for 360 IOUs are as follows:

Borrow 10,000 yuan from 360 and repay the loan in 6 installments. The monthly interest rate is 1 and the monthly fee is The rate is 1. Then through the equal principal and interest calculator, the total interest can be calculated to be 352.9 yuan. In addition, the monthly handling fee is 10,000×1=100 yuan, and the 360 ??IOU is formal.

The daily interest rate of 360 IOUs is basically between 0.03-0.05.

360 IOU interest calculation (example)

Borrow 10,000 yuan from 360, and repay the loan on a borrow-and-pay basis. The loan will be borrowed for 10 days, and the daily interest rate is 0.03. We can calculate the formula loan amount × number of days × daily interest rate = total interest to find that the interest for each day of the 360 ??loan is 3 yuan, and the total interest for 10 days is 30 yuan.