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How much is the interest for a loan of 5,000 a month for ten years?

For this problem, we need to use a simple loan calculation formula to solve it. Assuming that the loan interest rate is 5% per year, the monthly interest rate is 0.4%. The loan term is 10 years, and the number of repayment months is 120 months.

The monthly principal repayment is 5000/120 ≈ 41.67 yuan. The interest paid every month is the principal balance multiplied by the monthly interest rate, that is, (5000-41.67×n)×0.4%, where n is the number of repayment periods. The total interest is the sum of the interest paid every month, and is calculated as follows:

(5000-41.67×1)×0.4% (5000-41.67×2)×0.4% ... (5000- 41.67 x 120)