Equal principal and interest repayment (monthly average method): The total amount of loan principal and interest repaid every month is the same. Generally speaking, you need to pay more interest. It is suitable for those who have a certain amount of savings and have no intention of repaying it early.

The calculation formula:

a*[i*(1 i)^n]/[(1 I)^n-1]

a: Loan principal

i: Loan monthly interest rate

n: Loan number of months

Equal principal repayment (decreasing method) formula:

Monthly repayment =