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How to calculate the interest on usury?

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

What is most concerned about usury is its “high profit” problem, so how to calculate the interest on usury? The loan price of usury refers to the monthly interest rate of 1 yuan. For example, if the usury is 6 points interest, it is equivalent to 72% annual interest rate, 1 hair is equivalent to 120% annual interest rate, which is far higher. Out bank loan interest rate. Then, under this interest rate, how to calculate the interest on usury? Usually, the calculation method is profit-making, that is, compounding. Compound interest is calculated by the formula:
 
F=P×(1+i)^N (secondary)
 
F: Compound interest final value
 
P: principal
 
i: interest rate
 
N: an integral multiple of the interest rate acquisition time
 
Knowing the above formula, let us give an example to illustrate how the interest on usury is calculated. If you borrow a loan of 15,000 yuan, the agreed interest rate is 6 points, that is, the monthly interest rate is 6%.
 
One year of profit and = 15000 × (1 + 6%) ^ 12 = 30,182.95 yuan
 
This formula explains why many people are ruining because of loan sharking.
 
Usury loan 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. If the private lending is more than 4 times the bank interest rate, it is a usury. If you are a lender, you must bear the responsibility of illegally absorbing public deposits. At the same time, if you use illegal means in the process of dunning, you must bear the corresponding legal responsibility. .
 
2. If you are a borrower, you must first consider whether you can afford it. If you can't afford it, don't borrow it. Although the state does not protect the usury behavior, the loan sharks usually have certain power, which is not affordable for ordinary people. .
 
3, it is recommended that friends go to the bank to apply for loans, or find relatives and friends to borrow temporarily, the drowning of usury, it is likely to become a miserable.

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