you can only get 2916, 67 yuan interest a month. 7 million deposits in the bank can only get the current interest rate for one month. The current interest rate is .5%. It is better to put it in a better monetary fund, such as Huaxia cash-increasing monetary fund, whose current annualized rate of return is around 4-6%. According to the rate of return of 5%, you can make a profit of 29,166 after one month, 7 yuan. That is, it will be about 1 times higher than the current interest rate of money in the bank.

1. Basic knowledge of interest calculation

(1) The interest rate conversion formula for RMB business is (note: common for deposits and loans):

1. Daily interest rate (/)= annual interest rate (%)÷36= monthly interest rate (‰)÷3

2. The interest calculation formula is:

interest = cumulative interest product × daily interest rate, where cumulative interest product = total daily balance.

2. Transaction-by-transaction interest calculation method calculates interest one by one according to the predetermined interest calculation formula: interest = principal × interest rate× loan term, with three details:

If the interest calculation period is a whole year (month), the interest calculation formula is:

① Interest = principal × years (months) × years (months) interest rate

The interest calculation period has a whole year (months). The interest calculation formula is:

② Interest = principal × years (months) × years (months) interest rate+principal × odd days × daily interest rate

At the same time, banks can choose to convert all interest calculation periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual days in the Gregorian calendar of that month. The interest calculation formula is:

Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.

(3) compound interest: compound interest means adding interest at a certain rate. According to the regulations of the central bank, if the borrower fails to repay the interest according to the time agreed in the contract, it will be charged with compound interest.

(4) penalty interest: if the lender fails to repay the bank loan within the prescribed time limit, the penalty interest that the bank will pay to the non-defaulting person according to the contract signed with the parties is called bank penalty interest.

(5) liquidated damages in loans overdue: the nature is the same as the penalty interest, and it is a punitive measure for the breaching party.