I want to borrow a loan of 1 1 ten thousand yuan, and the interest rate is 1.0875. 7 years, how much is the monthly repayment, principal and interest?

The interest rate is 1.0875, which should be the monthly interest rate 1.0875%,1/0/ten thousand, 7 years (84 months), equal principal and interest, monthly repayment amount:

1 10000* 1.0875%*( 1+ 1.0875%)^84/[( 1+ 1.0875%)^84- 1]=2004. 1 1

Description: 84 is the power of 84.

Matching principal and interest, the total monthly repayment amount is the same, but the composition is different. The principal is less in the early stage and more in the later stage, and the interest paid in the early stage is relatively less and more in the later stage.

The first interest:110000 *1.0875% =1196.25; Principal: 2004.11-1196.25 = 807.86.

Second interest: (110000-807.86) *1.0875% =1187.46; Principal: 2004.111187.46 = 816.65.

The third issue: (110000-807.86-816.65) *1.0875% =1178.58; Principal: 2004.11-1178.58 = 825.53.

etc

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