Daily interest rate = annual interest rate /360, according to your description, the income is 0.045% (for reference only, subject to the implementation interest rate). We know that interest rate plays an important role in our interest calculation, but there are many kinds of interest rates, including annual interest rate, monthly interest rate and daily interest rate. We can use the annual interest rate when calculating the interest for one year, but if we want to calculate the interest for one day, we need to convert the annual interest rate into.

1. How to convert the annual interest rate into the daily interest rate?

Usually, the bank interest rate refers to the annual interest rate, expressed in%. In addition to the annual interest rate, there are monthly interest rates and daily interest rates. The calculation formula of converting annual interest rate into daily interest rate is daily interest rate = annual interest rate /360, and the calculation formula between monthly interest rate and daily interest rate is daily interest rate = annual interest rate /360 = monthly interest rate /30.

It should be noted that although there are 365 days in a year, 360 is used instead of 365 in the conversion process of annual interest rate and daily interest rate.

Second, how to calculate the annual interest rate

1, interest rate = interest/principal/time × 100%.

2. Interest = principal × interest rate × time.

For example, if the deposit is 100 yuan and the bank promises to pay the annual interest rate of 4.2%, then the bank will pay 4.2 yuan interest in the coming year.

3. The formula is 100× 4.2% = 4.2 yuan.

4. 100× 4.2% = 4.2 yuan.

5. Final withdrawal 100+4.2 = 104.2 yuan.

Third, the difference between annual interest rate and annualized interest rate.

There is more and more money in hand now. Many people want to buy some wealth management products, which is much better than having a bank. However, when choosing financial products, we often don't know how to choose, especially the difference between annual interest rate and annualized interest rate. Annualized interest rate, that is, annualized rate of return, refers to the level of income that can be maintained for one year in a certain period of time before. This does not mean that it will be like this in the future. It can only show that it is risky to reach this level in a certain period of time in the past. The annual interest rate is a year's investment, and interest is definitely earned. This is the actual situation, representing the present and the future. So buying wealth management products depends on the annual interest rate, not just the annualized interest rate.