Then I'll take a look at popular science!
In other words, the total principal and interest of the mortgage loan are added up and then evenly distributed to each month of the repayment period. The monthly repayment amount is fixed, but the proportion of principal in the monthly repayment amount increases month by month, and the proportion of interest decreases month by month.
The total loan amount (principal) plus the total interest generated by the principal during the loan period, and then divided by the total number of months of the loan, the monthly repayment amount of consumers during the loan period is obtained.
The repayment algorithm is professional and generally difficult to understand: monthly repayment amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months] ((1+ monthly interest rate )× repayment months].
As a matter of fact, the interest and principal you repay each period are different, so the data calculated by the average algorithm is of course wrong.
Because the bank-specific algorithm is complicated, and the change of the benchmark interest rate of the loan needs to be considered when calculating (when you are 1 1 year old, the benchmark interest rate is 1 1 year, and the new interest rate will be implemented after 12 years, so your repayment after 12 years is actual.