Related to the implementation interest rate, the monthly interest rate for 30 years (360 months) is 5.88%/1.24 million if the current general annual interest rate is 5.88% for more than five years:

Monthly repayment amount = 400,000 * 5.88%/12 * (1+5.88%/12) 360/((1+5.88%/12) 360.

Description: 360 is the power of 360.