ICBC loaned 360,000 yuan, and the benchmark interest rate for 20 years rose by 3%, with equal principal and interest. How much is the monthly repayment?

At present, the benchmark interest rate for housing loans over five years is 4.9%.

The increase of 3% is:

4.9%*( 1+3%)=5.047%。

Repayment method: equal principal and interest method

Total loan: 360,000 yuan

Loan term: 20 years

Loan interest rate: 5.047%

Monthly repayment: 2385.20 yuan

Total principal and interest: 572,448.00 yuan.

Total interest: 2 12448.00 yuan.

Calculation formula for repayment of each installment:

= principal * (interest rate/12) * ((kloc-0/+interest rate/12) (term *12)/(1+interest rate/12) ()

=360000*(5.047%/ 12)*(( 1+5.047%/ 12)^(20* 12)/(( 1+5.047%/ 12)^(20* 12)- 1))

2385.20 yuan

You can also use the excel function PMT to calculate:

=PMT (interest rate, NPER, PV, FV, type)

=PMT(5.047%/ 12，20* 12，360000，0，0)

= 2385.20 yuan

PMT-Repayment amount in each installment

Interest rate-interest rate per period

NPER-number of cycles

PV-Initial value (total loan amount)

FV-final value (0)

Type-type. The first repayment 1, and the final repayment is 0.

Total principal and interest = sum of repayment amount in each installment.

This example: =2385.2*20* 12

= 572,448.00 yuan

Total interest = total principal and interest-principal

This example: =572448-360000

= 2 12448.00 yuan