Assume that the loan execution interest rate is 6%; Then, annual interest rate =6%, monthly interest rate = annual interest rate/12 = 0.5%;
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 = 560000 * 0.5%/1-(1+0.5%)-360
Monthly repayment amount = 3357.48 yuan
Total repayment amount = 1, 208,693.86 yuan.
Total interest = 648,693.86 yuan.
Second, the "average capital" model.
(1), calculate the down payment.
Formula down payment = loan amount *[( 1/ total months)+monthly interest rate)]?
Down payment =560000*[( 1/360)+0.5%)]
The first repayment amount = 4355.56 yuan.
(2) Calculate the monthly decline?
Formula Monthly Decreasing Amount = Loan Amount/Total Months * Monthly Interest Rate
Monthly decline rate =560000/360*0.5%
Monthly decreasing amount =7.78 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 * 560000 * 0.5% * (1+360)
Total interest = 505,400.00 yuan
Total repayment = 65,438+0,065,400.00 Yuan.
* Analysis of results *
Under the assumed conditions, the monthly repayment of "equal principal and interest" is 3357.48 yuan, and the total repayment amount is 1, 208,693.86 yuan;
"Even cost" method, the first repayment amount is 4355.56 yuan, and then it will decrease by 7.78 yuan month by month; The total repayment amount is 1, 065,400.00 yuan;
"Equal capital" saves interest 143293.86 yuan compared with "equal principal and interest".