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Calculation formula of mortgage interest What is the monthly interest rate of 7.05% for the loan of 65,438+380,000 yuan in 2000?
The monthly interest rate is 7.05%/ 12.

380,000 yuan, 10 year (120 months), monthly repayment:

380000 * 7.05%/ 12 * ( 1+7.05%/ 12) 120/[( 1+7.05%/ 12) 6544.

Description: 120 is the power of 120.

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