(1) Equal monthly repayment amount of principal and interest = [loan principal× monthly interest rate× (1+monthly interest rate )× repayment months ]÷ 1+ monthly interest rate× repayment months;

(2) Average monthly repayment amount of funds = (loan principal/repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.

legal ground

Article 32 of the general principles of loans

? The borrower shall repay the loan principal and interest in full and on time in accordance with the provisions of the loan contract. The lender shall issue a notice of repayment of principal and interest to the borrower before the short-term loan expires 1 week and the medium-and long-term loan expires 1 month; The borrower shall prepare funds in time and repay the principal and interest on schedule. The lender shall promptly issue a notice of overdue loan collection, and do a good job of overdue loan principal and interest collection. Lenders charge interest on loans that cannot be repaid within the time limit stipulated in the loan contract; If the principal and interest cannot be repaid or executed, it shall be urged to repay or bring a lawsuit. The borrower shall negotiate with the lender when repaying the loan in advance.

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