There are several types of iron, and what iron is the most profitable

Iron is divided into pig iron and wrought iron Generally, the carbon content is less than that is called wrought iron or pure iron, the content is called steel, and the content is above is called pig iron. Wrought iron is soft, good plasticity, easy to deform, low strength and hardness, and is not widely used; Pig iron contains a lot of carbon, is hard and brittle, and has almost no plasticity; Steel has two advantages, pig iron and wrought iron, and is widely used by human beings. Just the sharpest.

There is a kind of steel called knife mold steel, which can do everything well.

Refers to the annual percentage rate.

In private lending, it is often heard that there is a fraction of interest, so what does a fraction of interest mean? How much is a penny of interest?

A cent of interest refers to a cent of interest, and a cent of interest is the amount of the interest rate on borrowing. The borrowing interest rate, also known as the interest rate, refers to the ratio of the amount of interest to the amount of principal borrowed by the borrower over a certain period of time. Calculated on an annual basis is called an annual interest rate, and calculated on a monthly basis is called a monthly interest rate, which is generally expressed as a percentage.

In private lending, since ancient times, there has been a customary term of centiality, that is, the interest corresponding to each dollar. To put it simply: the annual interest rate of one cent is to borrow one yuan and repay the interest at the end of the year, that is, the annual interest rate is 10%.

The monthly interest rate is to borrow one dollar, and the monthly interest rate is 10% or 12% per annum. The daily interest rate of one cent or one cent per day is to borrow one yuan and repay the interest one cent every day, that is, the daily interest rate is 1%, borrow 100 yuan and the interest rate is one yuan per day, which is converted into a monthly interest rate of 30% or 360% per year, which is a very, very high usury interest rate.

This should be divided into annual and monthly profits.

For example, the annual interest of 2 cents is 100 yuan a year is 20 yuan, the interest of 10,000 yuan a year is 2,000 yuan, such as the monthly interest of 2 cents, it is much higher, the interest of 100 yuan a month is 20, and the interest of a year is 240 yuan.

The folk talk about a few cents of interest, usually refers to a few percent of the monthly interest rate.

For example, 2 cents is a monthly interest rate of 2% and an annual interest rate of 24%.

Taking 10,000 yuan as an example, calculated at a monthly interest rate of 2 cents, the interest for one year is: 10,000 2% 12 = yuan).

Definition: 1. Money other than the principal obtained from deposits and loans (different from 'principal').

2. Interest (interest) abstractly refers to the value-added amount brought by the injection and return of monetary funds to the real economic sector. Interest is less abstract and generally refers to the remuneration paid by the borrower (debtor) to the lender (creditor) for the use of borrowed money or capital. It is also known as the symmetry of Jane Yin Zijin, the mother gold (principal).

The formula for calculating interest is as follows: Interest = Principal Interest Rate Deposit Duration (i.e. Time).

Interest is the remuneration received by the owner of the fund for lending the money, which comes from the part of the profit generated by the producer using the money to perform the operating function. It refers to the value-added amount brought by the injection and return of monetary funds to the real economic sector, and its calculation formula is: interest = principal interest rate deposit period x 100%.

3. Classification of bank interest.

According to the nature of the bank's business, it can be divided into two types: interest receivable by banks and interest payable by banks.

Interest receivable refers to the remuneration that the bank receives from the borrower for lending funds to the borrower; It is the price that the borrower must pay to use the money; It is also a part of the bank's profits.

Interest payable refers to the remuneration paid by the bank to the depositor for absorbing the deposit; It is the price that the bank has to pay to absorb the deposit and is part of the bank's cost.