Assuming that the loan execution interest rate is 4.9%, the annual interest rate =4.9%, and the monthly interest rate = annual interest rate/12=0.4083%.

First, the "equal principal and interest" method

Formula Monthly repayment amount = loan amount * monthly interest rate /[ 1-( 1+ monthly interest rate)-repayment months]

Monthly repayment amount = 460000 * 0.4083%/[1-(1+0.4083%)-240]

Monthly repayment amount = 30 10.34 yuan.

Total repayment amount = 72248 1.95 yuan.

Total interest = 26248 1.95 yuan.

Second, the "average capital" model.

(1), calculate the down payment.

Formula down payment = loan amount *[( 1/ total months)+monthly interest rate)]

Down payment = 460000 * [(1/240)+0.4083%)]

First repayment amount = 3794.85 yuan

(2) Calculate the monthly decline.

Formula Monthly Decreasing Amount = Loan Amount/Total Months * Monthly Interest Rate

Monthly decline =460000/240*0.4083%

Monthly decreasing amount =7.83 yuan

(3) Calculate the total amount of interest and repayment.

Formula total interest = 1/2* loan amount * monthly interest rate *( 1+ total months)

Total interest =1/2 * 460000 * 0.4083% * (1+240)

Total interest = 226,320.69 yuan.

Total repayment = 686,320.69 yuan.

Results: Under the hypothetical conditions, the monthly repayment is 30 10.34 yuan, and the total repayment is 72,2481.95 yuan.

"Even cost" method, the first repayment amount is 3794.85 yuan, and then it will decrease by 7.83 yuan every month; The total repayment amount is 686,320.69 yuan.

Extended data:

The main difference between the equal principal and interest method and the equal present value method is that the equal principal and interest method is characterized by the same monthly repayment amount. In the "present value plus interest" distribution ratio of monthly payment, the proportion of interest paid in the first half of the year is large, and the proportion of present value is small. After half of the repayment period, it gradually turns into a large proportion of present value and a small proportion of interest. The total interest paid is more than the equal present value method. The longer the loan term, the greater the difference between interest and interest. However, because the amount of repayment in this way is the same every month, the expenditure plan suitable for families, especially for young people, can adopt the method of equal principal and interest, because income will increase with age or promotion. The characteristics of the equal present value method are: monthly repayment, that is, dividing the loan amount evenly according to the total repayment months (equal present value), and adding the monthly interest of the previous residual present value to form a monthly repayment amount, so the repayment amount of the equal present value method is the most in the first month, and then decreases month by month, and the less the more. The total amount of interest paid is less than the equal principal and interest method. However, this repayment method has a high repayment amount in the early stage of the loan period and is suitable for borrowers with strong repayment ability in the early stage. The equal present value method can be used for the elderly, because income may decrease with age or retirement.