Monthly interest rate = annual interest rate/12 = 4.42%/12 = 0.3683%.
Loan principal = 654.38+0 million.
Number of loan months = 20 years × 12 months/year = 240 months.
Substitute into the calculation formula:
Monthly repayment amount = (1 ten thousand× 0.003683× (1+0.003683) 240)/((1+0.003683) 240-1)
After calculation, the results are as follows:
The monthly repayment amount is about 649 1.08 yuan.
Detailed description:
1. loan principal 1 ten thousand, loan term is 20 years, converted into 240 months.
2. The annual interest rate is 4.42%, which is converted into monthly interest rate, that is, the annual interest rate divided by 12.
3. Calculate the monthly repayment amount according to the calculation formula of loan principal, monthly interest rate and loan month.
4. The monthly repayment amount is a definite value, and it is not necessary to list the repayment amount under different circumstances.
Extended data:
-In practice, other factors need to be considered, such as the fluctuation of loan interest rate and the choice of repayment method.