Loan term: 1 year (12 months)
Five situations of paying off all loans at a fixed interest rate:
☆ Calculated by commercial loans with equal principal and interest.
Annual profit rate: 6%
Monthly payment: 1 1 188.64 yuan.
Total interest: 4263.62 yuan
Total accumulated repayment:134,263.62 yuan.
☆ Calculated by commercial loans and average capital.
Annual profit rate: 6%
The first monthly payment: 1 1483.33 yuan.
Decreasing month by month: 54. 17 yuan
Monthly payment at the end of the month: 10887.54 yuan.
Total interest: 4,225.00 yuan
Total accumulated repayment:134,225.00 yuan.
☆ Calculated according to the provident fund loan with equal principal and interest.
Annual profit rate: 4%
Monthly payment: 1 1069.49 yuan.
Total interest: 2833.86 yuan
Total accumulated repayment:132,833.86 yuan.
☆ Calculated by provident fund loans and average capital.
Annual profit rate: 4%
The first monthly payment: 1 1266.66 yuan.
Decreasing month by month: 36. 1 1 yuan
Monthly payment at the end of the month: 10869.48 yuan.
Total interest: 28 16.66 yuan.
Total accumulated repayment: 1328 16.66 yuan.
Principal+interest for one-time repayment of principal and interest =130000 * (1+6%) =137800 yuan.
Commercial loans generally float above 10% (inclusive).