1. How much does it cost to repay a loan of 20,000% in a month and a year if the interest rate is 6%?

This 6% should refer to the monthly interest, that is, the monthly interest is 0.6%, 12 months a year. , then the annual interest is 7.2

The monthly payment is 20,000*0.006=120 yuan.

Repay 20,000*0.072=1,440 yuan a year.

The total principal after one year is 21,440 yuan.

2. Loans

Loans are a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must be returned. Loans in a broad sense refer to the general term for lending funds such as loans, discounts, and overdrafts. Banks invest their concentrated currency and monetary funds through loans, which can meet the society's need for supplementary funds to expand reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.

3. Principles of Loans

The "Three Principles" refer to safety, liquidity, and efficiency, which are the fundamental principles of commercial bank loan operations. Article 4 of the "Commercial Bank Law of the People's Republic of China" stipulates: "Commercial banks take safety, liquidity, and efficiency as their operating principles, implement independent operations, bear their own risks, be responsible for their own profits and losses, and self-discipline."

1. Loan safety is the primary issue faced by commercial banks;

2. Liquidity refers to the ability to recover loans within a predetermined period or to liquidate them quickly without loss, satisfying customers The need to withdraw deposits at any time;

3. Efficiency is the basis for the bank's continued operations.

For example, long-term loans with higher interest rates than short-term loans are more efficient, but if the loan period is longer, the risk will increase, the safety will be reduced, and the liquidity will become weaker. Therefore, there must be harmony among the "three natures" so that there will be no problems with loans.