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How to calculate interest on loan sharks?

Time: 2012-12-28         Source: Rong 360 original         Author: Li Jing

The highest concern for usury is its "high interest" problem.How to calculate the loan interestWhat? The loan price of usury refers to the one-month monthly interest rate. For example, if we say that usury is a 6-point interest rate, it is equivalent to an annual interest rate of 72%, and 1 gross profit is equivalent to an annual interest rate of 120%. This is far higher. Out of bankLending rates. So, what kind of loan interest is calculated under this kind of interest rate? In general, the calculation method is profitable, that is, compound interest method. Compound interest calculates interest, the formula is:
F: Final compound value
P: principal
i: interest rate
N: integral multiple of interest rate acquisition time
Knowing the above formula, let's give an example of how to calculate the interest from loan sharks. If you borrow 15,000 yuan usury, the agreed interest is 6 points, that is, the monthly interest rate is 6%
One year Ben Lee and = 15,000 × (1 + 6%) ^ 12 = 30182.95 RMB
This formula explains why there are many people who have gone bankrupt due to usury.
Usury misunderstanding
There are some misunderstandings about usury, and we must remind everyone here.
1. Usury is illegal and illegal things are not protected by law. More than 4 times higher than the bank interest ratePrivate lendingEven if you are a loan shark, if you are a lender, you must assume the responsibility of illegally absorbing public deposits. At the same time, if you use any illegal means in the dunning process, you must also bear the corresponding legal responsibility.
2. If you are a borrower, you must first consider whether you can afford it. If you cannot afford it, do not borrow it. Although the country does not protect the usury, the loan shark usually has a certain amount of power. It is not something ordinary people can afford. .
3. It is recommended that all friends go to the bank to apply for a loan, or to seek temporary loans from relatives and friends, and drowning in usury. It is very likely that they will lose their loved ones.

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