The annual interest is 69.55 yuan.

daily interest rate = annual interest rate/36 (days) = monthly interest rate/3 (days)

interest = principal * interest rate * interest periods

I = P * i * n

known: P = 1 (yuan) I = 6%/36n = 1 = 1.666666667 ≈ 1.67 (yuan)

Under different income carry-over methods, the calculation formula of seven-day annualized rate of return should be different. At present, there are two ways to carry forward money market funds. One is to pay dividends on a daily basis and carry them forward on a monthly basis.

Extended information

For investors, when they come into contact with wealth management products, they need to know not only the meaning of the word annualized rate of return, but also another very similar word annualized rate of return. The annual rate of return is the ratio of one year's actual income from investing in a wealth management product. This is a real rate of return. The annualized rate of return is calculated according to the current rate of return for one year. Relatively speaking, annualized rate of return is a theoretical rate of return.

besides knowing the difference between annualized rate of return and annual rate of return, you also need to know what the seven-day annualized rate of return is. For online wealth management products, the seven-day annualized rate of return is also a word that is often encountered. Seven-day annualized rate of return refers to the average income level of the last seven days, and the rate of return obtained after annualized.

the 7-day annualized rate of return can only be a short-term indicator reference, and cannot represent the actual income. However, the seven-day annualized rate of return is also one of the important indicators to reflect the rate of return of money market funds.

the higher the annualized rate of return, the more income you will get. Therefore, products with high annualized rate of return are often more popular with investors.

Baidu encyclopedia-annualized rate of return

Baidu encyclopedia-interest