Interest rate is set by lenders. The interest amount is updated every 4 hours (4 hours/1 term). This is the compound interest & the formula is as follows:
Example:
- Borrowing 1000 USDT -> P=1000
- The interest rate is 12.04%/year
- 4-hour Interest rate is (0.1204/365/24)*4 = 0.000055 -> R= 0.0055%
- Borrowing for 6 terms -> T= 6
- So the interest amount is:
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