Related content of this lesson:
What are the deposit methods?
(2) principal.
Money deposited in the bank is called principal.
(3) interest.
The extra money paid by the bank when withdrawing money is called interest.
Interest = principal × interest rate× deposit period
Recovered principal and interest = principal+interest
(4) interest rate.
The interest rate is stipulated by the state and sometimes adjusted according to the economic development of the country.
(5) Learn the concepts of annual interest rate and monthly interest rate.
The interest rate is calculated on a monthly basis and is called the monthly interest rate.
If there is an annual calculation, it is called the annual interest rate.
Primary school mathematics formula: interest rate problem formula
(1) simple interest problem:
Principal × interest rate× term = interest;
Principal ×( 1+ interest rate× term) = principal and interest;
Principal and interest and cash (1+ interest rate × term) = principal.
Annual interest rate ÷ 12= monthly interest rate;
Monthly interest rate × 12= annual interest rate.
(2) compound interest:
Principal ×( 1+ interest rate) Number of deposit periods = sum of principal and interest.
For example, "someone deposits 2400 yuan with a term of 3 years, and the monthly interest rate is 10.2 ‰ (that is, monthly interest 1.02). After three years, how much is the principal and interest? "
Solve the problem with monthly interest.
3 years = 65438+2 months ×3=36 months
2400×( 1+ 10.2%×36)
=2400× 1.3672
= 328 1.28 (yuan)