Equal principal and interest calculation formula

a=f*i( 1+i)^n/[( 1+i)^n- 1]

A: Monthly payment;

F: total loan amount;

I: loan interest rate (monthly interest rate);

N: repayment months

: power supply

Calculation method of average capital:

a 1=(F÷n)+F*i

a2=(F÷n)+(F-F÷n)*i

a3=(F÷n)+[F-2F÷n)]*i

.....

an =(F \n)+[F-(n- 1)F \n)]* I

A 1, A2 ... monthly payment.

F total loans

Repayment month

I. Monthly loan interest rate

The loan is 6,543,800 yuan, with a loan term of 20 years, calculated at the latest interest rate of 5.9% as follows:

Equal monthly repayment

Equal monthly repayment method is equal principal and interest repayment method, that is, the borrower repays the loan principal and interest with the same amount every month, and the monthly loan interest is calculated according to the remaining loan principal at the beginning of the month and settled every month.

The total loan is 65,438+0,000,000.00 yuan.

Number of repayment months: 240 months

The monthly repayment is 7 106.74 yuan.

Total interest paid is 705,665,438+07.57 yuan.

The total principal and interest is 65,438+0,705,665,438+07.57 yuan.

Reduce the monthly repayment

The average capital repayment method means that the principal remains unchanged, the interest decreases month by month, and the number of monthly repayments decreases; Because the monthly repayment amount is fixed and the interest is getting less and less, the lender is under great pressure to repay at first, but as time goes on, the monthly repayment amount is getting less and less.

The total loan is 65,438+0,000,000.00 yuan.

Number of repayment months: 240 months

The repayment in the first month is 9083.33 yuan.

Decreasing monthly: 20.49 yuan

A total of 592,458.33 yuan of interest was paid.

The total principal and interest is 65,438+0,592,458.33 yuan.