2. The formula for calculating the monthly payment of equal principal and interest: [loan principal× monthly interest rate× (1+monthly interest rate )× repayment months ]=[( 1+ monthly interest rate )× repayment months]
Third, substitute the formula to get the monthly payment of 2 173.52.
Yuan, the monthly payment is multiplied by 240 months to get the total principal and interest of 52 1644.37.
Yuan, and then subtract the principal of 305839 yuan to get the total interest of 2 15805.37 yuan.
Principal is the original amount of a loan, deposit or investment before interest is calculated. As a whole, the principal of an enterprise (including fixed capital and working capital) is simultaneous, and it is spatially juxtaposed at different stages, showing different forms of principal occupation. Every professional form of principals is constantly changing from the last stage to the next stage, and from one form to another. Principal requires financial institutions not only to implement the policy of "developing economy and ensuring supply" to ensure the capital needs of enterprises' production and operation and foreign investment activities, but also to practise economy, rationally allocate principal and give full play to the regulatory role of finance in production and operation and foreign investment activities. So as to make full use of monetary resources and comprehensively improve the economic benefits of enterprises.
Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit.
Influencing factors of interests
The amount of interest depends on three factors: principal, deposit period and interest rate level.
The calculation formula of interest is: interest = principal × interest rate × deposit term.
According to State Taxation Administration of The People's Republic of China Guoshuihan [2008] No.826, since June 9, 2008, personal income tax on savings deposit interest is temporarily exempted. Therefore, the interest on savings deposits is temporarily exempted from interest tax.
deposit rate
The People's Bank of China decided to lower the benchmark interest rates of RMB loans and deposits of financial institutions from 22 10/2065. The benchmark interest rate for one-year loans of financial institutions was lowered by 0.4 percentage points to 5.6%; The benchmark interest rate for one-year deposits was lowered by 0.25 percentage point to 2.75%. At the same time, the upper limit of the floating range of deposit interest rate of financial institutions is adjusted from 1. 1 times of the benchmark deposit interest rate to 1.2 times. The benchmark interest rates of other grades of loans and deposits are adjusted accordingly, and the term grades of benchmark interest rates are appropriately degenerate.