1. annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (day).
2. Monthly interest rate = annual interest rate ÷ 12 (month) = daily interest rate ×30 (days).
3. Daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days).
Pay attention to the consistency with the deposit period when using interest rates.
Interest rate, also known as interest rate, is the ratio of interest amount to principal in a certain period and is an important tool to adjust monetary policy. Usually expressed as a percentage "%",if calculated on an annual basis, it is called the annual interest rate.
As for the calculation formula of annual interest rate, in fact, we can know conceptually that interest rate = interest amount/(principal x time). If it is converted into percentage, then "interest rate = interest amount/(principal x time) × 100%".
Interest rates are divided into monthly interest rates and daily interest rates according to different measurement cycles. Where, monthly interest rate = annual interest rate/12 (month), daily interest rate = annual interest rate /360 (days) = monthly interest rate /30 (days).
Insurance calculation method:
Different insurance has different calculation methods. The interest rate of each insurance is different, and the insurance interest of different companies is also different. When we choose the insurance interest calculator, we still have to choose the company we buy insurance from.
The premium paid by the insured is gross premium, which is pure premium after deducting additional premium. Pure premium is a part of savings premium after deducting dangerous premium, and only savings premium bears interest at guaranteed interest rate.
At present, the annual rate of each insurance company should not exceed 2 or 5% of the premium amount, because the annual interest rate of bank deposits is about 2 or 5%.
Principal-guaranteed interest rate refers to the premiums that individuals invest in insurance companies, and some of them are not used to bear insurance responsibilities, which is equivalent to insurance in advance or funds deposited in insurance companies. The insurance company will increase the value of this part of the funds equivalent to savings in a certain way, and also pay interest to the insured in the form of annual compound interest at a certain interest rate. This kind of interest rate is called guaranteed interest rate or guaranteed interest rate, and the annual compound interest method is commonly known as "rolling interest".
Generally speaking, the higher the set guaranteed interest rate, the better for the insured and the insured.
Because the lower the guaranteed interest rate, the smaller the risk of the insurance company, but the higher the price of life insurance products, the more premiums the insured needs to pay. However, if the guaranteed interest rate is too high for the insurance company to realize and bear, it will lead to the bankruptcy of the insurance company and ultimately harm the interests of the insured and the insured.