The real interest rate of installment loans. For example, there is an activity that I borrow in six installments1w. One-time reimbursement of handling fee

The real interest rate of the loan is 8.46%.

Loan 1 1,000 yuan, handling fee 2.42%, 242 yuan. The actual loan amount is 9758 yuan.

Divided into 6 installments, the total principal+interest should be = 10000.

Input the loan amount of 9758 yuan into the loan calculator.

Number of cycles =6

Adjust the annual interest rate of the loan until the total principal+interest = 65,438+0,000.

At this time, the annual loan interest rate is the real interest rate.

This is usually a trick of small loan companies, which makes laymen think that the interest rate is very low, but it is actually very high.