Ping An House E has a loan of 400,000 yuan, with a monthly interest rate of 5.5% for ten years. Is the interest high?
The loan is 264,000 yuan, 10 years, that is, 120 installments, and the repayment in each installment is 3,333.33+2,200 = 5,533.33 yuan, with the annual interest rate of about 1. 10%, and the interest rate of bank loans over five years is about 4.90%.