The monthly repayment capacity of the loan is 8,000 yuan (default repayment at the end of the month), and the annual interest rate of the loan is 6.0%, which can be repaid continuously 10 year. How much can I borrow?
The first time I saw your question, it was all about how much to borrow, how high the interest rate is, and how much the equal principal and interest are paid each month. Then I'll help you calculate it, too
The maximum monthly payment is 8000 yuan, so I'll calculate it for you. The repayment amount is * * *
8000×12×10 = 960,000 yuan.
Suppose the loan is 1 10,000 yuan, then
a+a×6%× 10=960000
a+0.6a=960000
1.6a=960000
a=960000÷ 1.6
= 600,000 yuan
The maximum loan amount is 600,000.