First, the monthly interest rate 1% is converted into the annual interest rate, and the calculation formula is 1%× 12= 12%, so the annual interest rate is 12%.

Secondly, the formula for calculating interest is: principal × interest rate, assuming that the principal is 1 ten thousand, then the annual interest is 1 ten thousand×12% =1.200 yuan.

So the monthly interest of 1% is 1200 yuan.

It should be noted that different loans or wealth management products have different interest rates and calculation methods, and you need to carefully calculate the risks before making investment decisions.

What is the monthly interest rate of 1%?

1, interest before principal: loan interest = loan principal × loan interest rate× loan term, for example, the principal is 3,000 yuan, the loan lasts for three months, the monthly interest rate is 1%, and the interest is = 3,000×1%= 90 yuan.

2. Average capital: total interest = (number of periods+1)x loan principal x monthly interest rate -2. For example, the principal is 3,000 yuan for three months, the monthly interest rate 1%, and the interest = (3+1) x 3000x1%= 2 = 60 yuan.

3. Under the principal-interest matching method: total interest = number of periods x repayment amount per period-loan principal, repayment amount per period = [loan principal x monthly interest rate x( 1+ monthly interest rate) number of periods: [( 1+ monthly interest rate) number of periods-1], where the symbol ""stands for power.