1, daily interest algorithm: total loan × daily interest rate = daily interest. 500 X 0.05% = 0.25 yuan. Monthly interest rate = daily interest rate X 30 = 1.5%.
2. Daily interest rate, also known as daily interest rate or daily interest rate. Refers to the ratio of the single-day interest amount of deposits and loans to the amount of borrowing money. The daily interest rate is the interest calculated on a daily basis, expressed as a few ten thousandths of the principal, usually called a few cents a day.
Extended data
The daily interest rate is of little practical significance to ordinary bank depositors, but it is widely used for large-scale short-term financing in large enterprises, banks, securities companies or other non-financial institutions. Because the amount of funds related to these institutions is particularly large, even if the daily interest rate is relatively low and the base is large, the calculated daily interest rate is huge and cannot be ignored in financial processing. However, in general enterprises, due to the small amount of funds, the use of daily interest is less, which has no specific practical significance.
Formula:
Formula 1: daily interest rate = daily interest deposit (loan) amount X 100%.
Formula 2: Daily interest rate =? Monthly interest rate ÷30
Formula 3: Daily interest rate =? The annual interest rate is 360.
Baidu Encyclopedia: Daily Interest Rate