The amount of loan interest is related to the loan amount, loan term and loan interest rate. At present, the annual interest rate of provident fund loans for more than five years is 4.90%. The following is the formula for calculating the monthly repayment amount and total interest by using the equal principal and interest method:

1, monthly repayment amount = principal * monthly interest rate *( 1+ monthly interest rate) n/[( 1+ monthly interest rate) n- 1]

Where: monthly interest rate = annual interest rate/12, n represents the number of loan months, and n represents the power of n, such as 180, which represents the power of 180 (loans 15 and 180 months). Note: When calculating (1+ monthly interest rate) n- 1, you must first calculate what is in brackets, and then multiply and subtract 1.

Now suppose that the loan is 200,000 yuan, the term is 15, the interest rate of the provident fund is 4.90%, and the monthly repayment amount is:

200000*(4.90%/ 12)*( 1+4.90%/ 12)^ 180/[( 1+4.90%/ 12)^ 180- 1] = 157 1. 188435

= 157 1. 19 yuan (monthly payment)

2. Total interest 15: monthly repayment amount * repayment months-principal.

157 1. 188435* 180-200000=828 13.9 183

=828 13.92 yuan (total interest)