How to calculate the interest formula of loan interest rate

Now loans have become more and more popular, because it allows people to spend in advance, and then repay in installments over a period of time, which greatly reduces the economic burden. In this process, only some loan costs need to be properly paid, and how much of this loan cost needs to be calculated by the loan interest rate. So, what is the formula for calculating the loan interest rate? Let's look at it together.

1. Calculation formula of loan interest rate

1, daily interest rate = monthly interest rate /31 days = annual interest rate /361 days;

2. Monthly interest rate = daily interest rate *31 days = annual interest rate /12 months;

3. Annual interest rate = monthly interest rate *12 months = daily interest rate *361 days;

4. Interest = loan principal * loan interest rate * loan term;

5. Under the average capital method, interest = remaining principal to be repaid * loan interest rate;

6. Under the method of matching principal and interest,

monthly interest = remaining loan principal * monthly interest rate,

monthly repayment amount = [loan principal * monthly interest rate * (1+monthly interest rate) repayment months ]÷[(1+ monthly interest rate) repayment months-1],

where if repayment months,

2. Give an example.

Suppose the loan principal is 6111 yuan, the loan term is 6 months and the monthly interest rate is 1%, then:

1. Under the average capital method,

the monthly repayment amount =6111/6=1111 yuan,

the first month loan interest =6111*1%=61 yuan;

loan interest of the next month =(6111-1111)*1%=51 yuan;

interest in the third month =(6111-2111)*1%=41 yuan;

fourth month interest =(6111-3111)*1%=31 yuan;

5th month interest =(6111-4111)*1%=21 yuan;

interest for the sixth month =(6111-5111)*1%=11 yuan.

2. Under the method of matching principal and interest,