If the monthly interest rate is 6%, then the monthly interest rate is six thousandths, which means the monthly interest rate is 0.6%. If the loan is 50,0001month, the interest is 500,000× 0.6% = 3,000 yuan.
The difference between them is 1 month 500 yuan, 1 year 6000 yuan. So be sure to see clearly what is the time unit agreed before 6%, whether it is year, month or day. If there is no agreed time unit in the contract, according to folk custom, the monthly interest rate is 6%, then your monthly interest 1 is 3000 yuan. The monthly interest rate is 0.6% and the annual interest rate is 7.2%, which is not too high. After all, banks still have loan activities with higher interest, but since your principal is 500 thousand, which is relatively high, the interest is also relatively high.
Interest = loan amount × loan interest rate × loan time.
Centimeter is the unit of interest rate. For the annual interest rate, one percent is one percent, and for the monthly interest rate, one percent is one thousandth. If it is annual interest rate, 6% interest is interest rate, if it is monthly interest rate, 6% interest is 0.6% interest rate.
When you use miles and minutes, you must pay attention to the days, months and years ahead. Different time backgrounds have different percentages! I'd like to remind you that in the IOUs, the place where disputes are likely to occur is just "interest 1 minute", and it is not indicated whether the monthly interest rate is 10%, and the monthly interest rate is10% (converted into annual interest rate 12%), with a difference of 2%.
The relationship between points and cents
On-off and on-off is a simple name for interest rate, which is generally a few cents or a few cents. Many users often say that interest is a few cents or a few cents. In fact, this is a wrong statement, but after all, it is special that although the statement of interest is incorrect, users can understand each other, because in many users' concepts, interest rate and interest are "fixed" and equally understood.
The point is the monthly interest rate. Take monthly interest 1% as an example, which can be described as monthly interest 1 minute.
Cents is the monthly interest rate. Taking the monthly interest rate of 2‰ as an example, it can be described as the monthly interest rate of 2%.
The conversion relationship between minutes and centimeters is 1 minute = 10 cm.
So the percentage can also be expressed as a percentage, that is, taking the monthly interest rate of 0.2% as an example, it can also be expressed as a monthly interest rate of 2%.