Equal repayment at the end of each year, with a total amount of 117,128 yuan, and an annual repayment of 29,282 yuan.
According to the meaning of the question, the loan principal is 8, yuan, that is, 8, yuan.
The repayment period is 4 years, and the annual interest rate is 1%. According to the compound interest calculation,
A is deposited at the beginning, I is used as the interest rate, and the sum of the principal and interest after N periods.
formula: f = a * (1+I) n
if you substitute the data in the question, you can get the following formula:
the final value of compound interest = 8 * (1+1%) 4 = 117128 (yuan)
then the annual repayment amount = 117128/. Housing provident fund loans and commercial personal housing loans of most banks have adopted this method. This way, the monthly repayment amount is the same;
(2) repayment of equal principal: that is, a repayment method in which the borrower evenly distributes the loan amount to each installment (month) throughout the repayment period and pays off the loan interest from the previous trading day to the repayment day. In this way, the monthly repayment amount decreases month by month;
(3) Pay interest on a monthly basis and repay the principal at maturity: that is, the borrower will repay the loan principal in one lump sum on the loan maturity date (applicable to loans with a term of less than one year (including one year)), and the loan will bear interest on a daily basis and the interest will be repaid on a monthly basis;
(4) Repayment of part of the loan in advance: that is, the borrower can repay part of the loan amount in advance when applying to the bank, which is generally 1, yuan or an integer multiple of 1, yuan. After repayment, the loan bank will issue a new repayment plan, in which the repayment amount and repayment period are changed, but the repayment method is unchanged, and the new repayment period shall not exceed the original loan period;
(5) Repayment of all loans in advance: that is, the borrower can repay all the loan amount in advance when applying to the bank, and the loan bank will terminate the borrower's loan at this time after repayment and handle the corresponding cancellation procedures;
(6) Pay back as you borrow: the interest after borrowing is calculated on a daily basis, and the interest is calculated on a daily basis. You can settle the money in one lump sum at any time without penalty.
Notes on loan:
1. When applying for a loan, the borrower makes a correct judgment on his economic strength and repayment ability according to the loan interest rate. Design the repayment plan according to your income level, and leave room appropriately, so as not to affect your normal life.
2. Choose the appropriate repayment method. There are two repayment methods: equal repayment and equal principal repayment. Once the repayment method is agreed in the contract, it cannot be changed during the whole loan period.
3. Repay on time every month to avoid penalty interest. From the month after the loan is initiated, it is generally the repayment date of the next month. Don't cause default penalty due to your negligence, which will make it impossible for the bank to apply for a loan again.
4. Take good care of your contract and iou, and read the terms of the contract carefully to understand your rights and obligations.
Baidu encyclopedia-compound interest