Because the loan interest rate is often adjusted, let me give you an example of calculating the loan interest first:
The total loan amount is 480,000 yuan, the time is 10 year and the interest rate is 5.94%. Want to know what the total interest is? How is the formula worked out?
Supplementary question: It is the total interest calculation method of interest repayment method of average capital. Ask professionals for help! Don't make me look there. I just want to have an easy-to-understand formula.
Answer: There are two repayment methods.
Average capital act.
Repayment per installment = principal per installment+interest per installment.
Principal of each installment = total loan amount/specified period.
Interest per installment = (total repayment of loans in the previous year) * annual interest rate
Monthly repayment amount = total loan amount/specified period+(total loan amount-paid in the previous year) * monthly interest rate.
The repayment in the first year = 480,000/10+(480,000-0) * 5.94% = 76512 yuan.
The repayment in the second year = 480000/10+(480000-76512) * 5.94% = 71967.1872 yuan.
The repayment in the third year = 480000/10+(480000-71967.1872) * 5.94% = 72237.438+049803 yuan.
Equal principal and interest method.
This is equivalent to a sinking fund.
F=A*(s/a，I，n)
A=F/(sp/a，I，n)
A is the monthly repayment.
F is the sum of the principal and interest to be repaid.
(s/a, I, n is the final value coefficient of ordinary annuity in n years with interest rate of I).
For example:
After five years, it will be 65,438+0,000,000 yuan, and the current interest rate is 4%.
Check ordinary annuity's final coefficient table (s/a, 4%, 5)=5.4 163.
A = 1, 000,000/5.4163 =184,627.88 yuan.
Therefore, at the end of each year, it is still 184627.88 yuan.
Keep the data in yourself until the tenth year. The second half is interest, and you can increase it yourself. About 20 thousand a year No formula is really bad, hehe.
I hope it helps you ~