The interest rate of Pacific Auto Network refers to the repayment rate of equal principal and interest, that is, the monthly repayment amount is equal. Rate refers to the ratio of total interest/total loan, through which interest and monthly payment can be directly calculated.

1. The concept is different: the rate refers to the ratio of paying fees, while the interest rate refers to the ratio of interest to principal in a certain period. 2. There are different ways to collect fees: the loan rate is calculated and needs to be paid in one lump sum, but the interest rate is calculated and generally paid in installments. 3. The settlement method of prepayment is different: the rate is calculated by the handling fee. Even if prepayment is made, the borrower must repay it in one lump sum, but the interest rate is different. If prepayment is made, the interest will be settled on the day of prepayment. 4. Different scope of application: the rate is mostly used for the calculation of credit card installment fees, while the interest rate is used for loans.

based on the prevailing rate in the current market, make a calculation. The loan is 1, yuan, and the rate is 4%: the loan lasts for one year, the interest = 1, * 4% = 4, yuan, and the monthly repayment = (1,+4,) = 8,666.67 yuan. ? The annual interest rate =7.3%, interest rate 7.3%/ rate 4% can be deduced from the loan amount, monthly payment and term. 1.83。 That is, under the same one-year interest rate, the interest rate is 1.83 times the rate.

(photo/text/photo: Chen Hanlin of Pacific Auto Network)

Million car purchase subsidy.