I. Calculation formula of equal principal and interest:

[loan principal × monthly interest rate ×(65438+ 10 monthly interest rate) repayment months ]=[(65438+ 10 monthly interest rate) repayment months-1]

Second, the average capital calculation formula:

Monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate, where the symbol represents power.

For example, suppose the principal is 10000 yuan, the bank loan is 10 year, and the benchmark interest rate is 6.65%, and compare the differences between the two loan methods.

Extended data:

Loans can be mortgaged (real estate, etc.). ) or secured loans, the latter with a smaller loan amount.

Calculation method of bank loan interest: Generally, compound interest is calculated on a monthly basis. There are two ways to repay by installments: one is equal principal and interest, and the other is average capital. In the short term, you can also repay the principal and interest in one lump sum.

Generally speaking, the interest rate formula for calculating interest mainly includes:

Monthly interest rate = annual interest rate/12, daily interest rate = annual interest rate /360.

According to different repayment methods, the algorithm of interest is also different, but the basic algorithm is as follows:

Loan interest of the current month = monthly interest rate of the remaining principal loan of the previous month.

Repayment of principal in the current month = repayment amount in the current month-loan interest in the current month

Last month's remaining principal = total loan-accumulated repaid principal.