The interest rate is expressed as annual interest rate, monthly interest rate and daily interest rate according to the standard of measurement period. If the calculation unit is years, it is the annual interest rate, and the annual interest rate is expressed as a percentage. All percentages are annual interest rates. The monthly interest rate is calculated in months and one thousandth. The daily interest rate is calculated in days and in tens of thousands. Monthly interest rate = annual interest rate/12; Daily interest rate = monthly interest rate /30 = annual interest rate /360 days.
First of all, we need to know what interest rates are, three common interest rates and their conversion relationships.
The so-called interest rate is the abbreviation of "interest rate", which refers to the ratio of interest amount to deposit principal or loan principal in a certain period of time. Usually divided into annual interest rate, monthly interest rate and daily interest rate. 2. Conversion formula: annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (days); Monthly interest rate = annual interest rate ÷ 12 (month) = daily interest rate ×30 (days); Daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days);
In addition, the use of interest rates should be consistent with the term. In the above formula, why is the year 360 days and the month 30 days? I suggest you refer to the Notice of the People's Bank of China on RMB Deposit and Loan Settlement issued by the People's Bank of China. The real interest rate is the interest rate after the principal, so how to quickly convert the credit card installment interest rate into the real interest rate? Based on the calculation of 0.6%, plus 65,438+00,000 yuan, it is divided into 65,438+02 months. How is it calculated? Formula: annual interest rate = single-period handling fee rate * number of periods *24/ (number of periods+1
Usually, in order to buy something that I have been longing for for for a long time, it is really convenient to pay by installment with a credit card, which really relieves our repayment pressure, but the price paid is really real money, so we must calculate the actual interest rate before installment. If you think the real interest rate of credit card installment is not high, then the interest rate of mobile phone consumption installment will be very scary. We usually go to a mobile phone store to buy a mobile phone, and we may see various advertisements for buying a mobile phone by stages, with a down payment of 0, excluding various fees. The monthly interest is calculated at 2%, and the actual interest is 2% *12 * 24/(12+1) = 44.31%,which is really scary!
In order to avoid the pit of various consumption stages, this method of converting real interest rate must be mastered. Annual interest rate = monthly interest rate * 12. So the annual interest rate of 0.26% is 3. 12%. Interest rate refers to the ratio of the interest amount due in each period to the par value of the borrowed, deposited or intervened amount. The interest rate is usually calculated by the percentage of one-year interest to the principal. Interest rates are not fixed, such as central bank policies, price levels, and stock and bond markets.