The loan of 400,000 yuan will be paid off in 20 years. Assuming an annual interest rate of 4.90%, the interest is calculated as follows:
Matching repayment method of principal and interest: monthly repayment amount = loan principal × [monthly interest rate× (1interest rate) repayment months ]=[( 1 interest rate) repayment months-1]. According to the formula, the monthly repayment amount is 26 17.78 yuan, 20.
Average repayment method: monthly repayment amount = principal/repayment months (principal-accumulated repaid principal) monthly interest rate. According to the formula, the repayment amount in the first month is 3300 yuan, and then it will decrease by 6.8 1 yuan every month. A total of 65,438+096,894.76 yuan of interest has to be repaid in 20 years.
Loan (electronic IOU credit loan) is simply understood as borrowing money with interest.
Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.
interest
Interest refers to the remuneration paid by the borrower to the lender in order to obtain the right to use the funds, which is the use price of the funds in a certain period (that is, the loan principal). The loan interest can be calculated in detail by the loan interest calculator.
In civil law, interest is the legal fruit of principal.
Repayment method
(1) Equal principal and interest repayment method: equal repayment every month, the sum of loan principal and interest. Most banks have adopted this method for housing provident fund loans and commercial personal housing loans. So the monthly repayment amount is the same;
(2) average capital repayment method: that is, the borrower distributes the loan amount to each period (month) evenly throughout the repayment period and pays off the loan interest from the previous trading day to the repayment date. In this way, the monthly repayment amount decreases month by month;
(3) Paying interest and principal on a monthly basis: that is, the borrower repays 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 bears interest on a daily basis and the interest is repaid on a monthly basis;
(4) Repay 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 an integer multiple of 65,438+0,000 or 65,438+0,000. After repayment, the lending bank will issue a new repayment plan, and the repayment amount and repayment period will change, but the repayment method will remain unchanged, and the new repayment period shall not exceed the original loan period.
(5) prepayment of all loans: 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: interest is calculated on a daily basis after borrowing, and interest is calculated on a daily basis. You can pay the money in one lump sum at any time without any penalty.
How much is the 20-year interest on the 200,000 mortgage?
Mortgage interest is not only related to loan principal and loan term, but also related to loan category and loan interest rate. The mortgage interest for 200,000 years is as follows:
1, commercial loan, calculated at the benchmark interest rate of 4.9%.
1) Repay the principal and interest in equal amount, and the total interest is:114133.14 yuan;
2) Repay the principal in equal amount, and the total interest is 98,408.33 yuan.
2. Provident fund loans are calculated at the benchmark interest rate of 3.25%.
1) repayment of equal principal and interest, with total interest of 72,253.97 yuan;
2) Repay the principal in equal amount, and the total interest is 65,270.83 yuan.
The loan of 400,000 yuan will be paid off in 20 years. How much is the monthly payment?
The monthly payment of 400,000 yuan for 20 years is an essential factor besides the loan amount and loan period, loan interest rate and repayment method.
1. mortgage loan.
1. Equal repayment of principal and interest. The loan interest is 228,266.29 yuan, and the total principal and interest is 628,266.29 yuan. The monthly repayment amount is 26 17.78 yuan.
2. Repayment of equal principal, loan interest 1968 16.67 yuan, total principal and interest of 5968 16.67 yuan, and the repayment amount in the first month is 3,300 yuan, with a monthly decrease of 6.8 1 yuan.
Compared with the above two methods, the average capital method is 365,438+0,449.62 yuan less than the equal principal and interest method.
Second, provident fund loans.
1. Equal repayment of principal and interest. Loan interest144,507.93 yuan, with total principal and interest of 544,507.93 yuan. The monthly repayment amount is 2268.78 yuan.
2. Repay average capital. Loan interest 13054 1.67 yuan, and the total principal and interest is 53054 1.67 yuan. The repayment amount in the first month is 2750 yuan, with a monthly decrease of 4.5 1 yuan.
Compared with the above two methods, the average capital method is less than the equal principal and interest method 13966.26 yuan.
How much is the interest on the loan for 20 years?
The annual interest rate of this loan is 5%. If the loan term of 200,000 yuan is 1 year, the interest is 2000,005% =10000 yuan. But in fact, the loan interest is determined by the repayment method, so there are three ways to calculate the interest:
1, average principal: monthly payment 17500 yuan, total interest = (repayment months 1)× loan amount × monthly interest rate /2=54 16.66 yuan.
2. Matching principal and interest: monthly payment is 8560.75 yuan, and total interest = repayment months × monthly payment-loan principal =5457.96 yuan.
3. One-time repayment of principal and interest at maturity: the principal and interest are repaid at maturity, so the total interest is =2000005%= 10000 yuan.
It can be seen that the loan interest rate is also 5%, but the calculated total interest is different. Everyone should choose the repayment method that suits them best, instead of blindly pursuing the amount of interest.
Average capital refers to a repayment method of loans. During the repayment period, the total amount of loans is divided into equal parts, and the same amount of principal and interest generated by the remaining loans of the month are repaid every month. In this way, because the monthly repayment amount is fixed and the interest is less and less, the borrower is under great pressure to repay at first, but as time goes on, the monthly repayment amount is less and less.
Matching principal and interest means paying the same amount of loans (including principal and interest) every month during the repayment period.
Monthly repayment amount = [loan principal × monthly interest rate ×( 1 monthly interest rate) repayment months ]=[( 1 monthly interest rate) repayment months]
The characteristics of equal principal and interest repayment method: the principal of equal principal and interest repayment method increases month by month, the interest decreases month by month, and the monthly repayment amount remains unchanged; Compared with the repayment method of general capital, the disadvantage is that there are many interest expenses. Interest accounts for most of the monthly payment in the initial repayment period. With the gradual return of the principal, the proportion of the principal in the contribution is also increasing. However, the monthly repayment amount of this method is fixed, which can control the expenditure of family income in a planned way and facilitate each family to determine the repayment ability according to their own income.
The characteristics of the average capital repayment method are: the principal of the average capital repayment method remains unchanged, the interest decreases month by month, and the number of monthly repayments decreases; Because the monthly repayment amount is fixed and the interest is getting less and less, the lender is under great pressure to repay at first, but as time goes on, the monthly repayment amount is getting less and less.
Compared with the two, in the case of the same loan term, amount and interest rate, in the early stage of repayment, the monthly repayment amount of average capital is greater than the equal principal and interest, while in the later stage, the monthly repayment amount is less than the equal principal and interest. That is to say, according to the whole repayment period, the repayment method in average capital will save the expenditure of loan interest.
Generally speaking, the repayment method of equal principal is suitable for borrowers who have a certain economic foundation, can bear heavy repayment pressure in the early stage and have an early repayment plan. Matching principal and interest repayment method is convenient to arrange income and expenditure because the monthly repayment amount is the same, and it is suitable for borrowers whose income is relatively stable because economic conditions do not allow early repayment and excessive investment.
Comparing the two repayment methods, it is concluded that the equal principal and interest pay considerable interest more than the average principal.
How much is the 20-year interest on the 200,000 mortgage?
How much is the interest of the mortgage for 200,000 years is related to the calculation method of interest.
If we borrow 200,000 yuan when buying a house and pay it off in 20 years, how much interest we need to pay is related to the calculation method. In the process of mortgage repayment, you can choose equal principal and interest repayment or equal principal repayment. According to the current benchmark loan interest rate of 4.9%, the average interest to be repaid in 20 years is 98,865,438+06 yuan, and the total principal and interest to be repaid in 20 years is 65,438+006,772 yuan.
Mortgage for 20 years, how to calculate the interest?
1. Calculation formula of interest: principal × annual interest rate (percentage) × deposit period.
2. Equal principal and interest method:
Calculation formula: monthly repayment amount = monthly interest rate of principal [(65438+ 10 interest rate) n/[(65438+ 10 interest rate) n- 1]
Where n represents the number of months of loan, and n represents the power of n, such as 240, representing the power of 240 (20 years and 240 months of loan).
Monthly interest rate = annual interest rate/12
Total interest = monthly repayment amount-loan months-principal
3, the law of average capital:
Calculation formula: monthly repayment amount = principal /n monthly interest rate of remaining principal.
Total interest = monthly interest rate of principal (loan months /20.5)
4. Loan interest is generally divided into annual interest rate, monthly interest rate and daily interest rate.
5. The interest rate is expressed as a percentage, the monthly interest rate is expressed as one thousandth, and the daily interest rate is expressed as one thousandth.
6. Annual interest rate ÷ 12= monthly interest rate; Monthly interest rate ÷30= daily interest rate; Annual interest rate ÷360= daily interest rate.
Extended data:
1. Basic formula for calculating interest. The basic formula for calculating the interest of savings deposits is: interest = principal × deposit period × interest rate;
2. Interest rate conversion, in which the conversion relationship among annual interest rate, monthly interest rate and daily interest rate is:
Annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (days);
Monthly interest rate = annual interest rate ÷ 12 (month) = daily interest rate ×30 (days);
Daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days).