The loan of 450,000 yuan will be paid off within 65,438+00 years, and the monthly interest rate is 5%. How much do you need to pay back every month?
The monthly interest rate is 0.59%
Monthly repayment amount is 450,000 yuan 10 year (120 months):
450000 * 0.59% * (1+0.59%)120/[(1+0.59%)10/] = 5243.45 yuan.
Description: 120 is the power of 120.