I want to buy a house. I need a loan of 210,000 yuan and it will be repaid in 10 years. I need to repay 2,436 yuan a month. Can anyone help me calculate how much the interest is and how it is calculat

I personally support the interest algorithm mentioned by yipengshuai1:

Interest = total repayment amount (2436*12*10=￥292320 yuan) - loan amount (￥210000 yuan) = ￥ 82,320 yuan.

If you want to calculate the annual interest rate of the loan, apply the common stock annuity present value formula PV = A * 1 - (1 i) ^ (-n) / i

That is: 210000 = 2436 * 1 - (1 i) ^(-n)/i

Use interpolation method to find i. Note that i is just the monthly interest rate. Multiply by 12 to get the annual interest rate I ≈ 0.069789462658 ≈ 6.98

Reference:

Annuity present value/wiki/E5B9B4E98791E78EB0E580BC

Interpolation method (interpolation method) /wiki/E58685E68F92E6B395

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