1, average capital
Average capital divides the total loan into equal parts during the repayment period, and repays the same amount of principal and the interest generated by the remaining loans in that month every month. In this way, because the monthly repayment amount is fixed, the interest paid is less and less, and the pressure of repayment is greater at first, but as time goes by, the monthly repayment amount is less and less.
Calculation of average capital interest:
Nth month interest = (loan principal-accumulated principal repayment amount) × monthly interest rate
→ interest on the nth month = loan principal -(N- 1)× loan principal ÷ total repayment months× monthly interest rate.
→ repayment amount in the nth month = (loan principal ÷ repayment months)+interest in the nth month.
For example, if we borrow 6,543.8+0,000 yuan from the bank for 20 years, and the annual interest rate is 3.6%, then the monthly interest rate is 0.3%(3.6%/ 12). The principal part of the monthly repayment is fixed, but the interest to be repaid every month is different.
Monthly principal repayment amount =100/(20×12) = 4166.67 yuan.
The interest in the first month =100× 0.3% = 3,000 yuan, and the repayment amount in the first month * * is 4166.67+3,000 = 7166.67 yuan;
Second month interest = (100-0.4166.67) × 0.3% = 2987.5 yuan; Total repayment in the second month: 4166.67+2987.5 = 7154.17 yuan;
......
By analogy, we can get the monthly interest and repayment amount:
2. Equal principal and interest
Matching principal and interest means paying the same amount of loans (including principal and interest) every month during the repayment period. Generally speaking, equal principal and interest means "the sum of principal and interest repaid every month remains unchanged", but the ratio of principal and interest is changing.
Calculation of monthly repayment amount of equal principal and interest:
Monthly repayment amount = monthly interest rate ×( 1+ monthly interest rate) number of repayment periods ÷( 1+ monthly interest rate) number of repayment periods-1× loan principal
For example, suppose you get a personal housing loan of 200,000 yuan from a bank, with a loan term of 20 years and an annual interest rate of 4.2%, with the principal and interest repaid every month.
According to the formula, the monthly repayment of principal and interest is 1233.438+04 yuan.
The loan balance in the first month is 200,000 yuan, the interest payable = 200,000× 4.2%/12 = 700 yuan, the paid principal is 533. 14 yuan, and the bank loan is still199,466.86 yuan;
Interest payable in the second month =199515.67× 4.2%/12 = 698.3 yuan, and the principal is 534.84 yuan;
By analogy, we can get the monthly interest and repayment amount:
Although the monthly repayment amount of equal principal and interest is equal, in the early stage of repayment, interest accounts for a heavier proportion and loan principal is less; In the later stage of the loan, due to the continuous reduction of the loan principal, the loan interest in the monthly repayment amount is also decreasing, and the monthly repayment of the loan principal is more.