Someone's personal housing mortgage loan is 2 million, and the loan period is 20 years. Assuming that the bank loan interest rate is 6.8%, how much should he pay back every month by using the equal principal and interest repayment method? Matching principal and interest method: loan principal: 2 million yuan, assuming annual interest rate: 6.800%, loan term: 20 years; Monthly repayment of principal and interest: 65,438+05,266.79 yuan, total repayment of principal and interest: 3,664,029.6 yuan, * * interest payable: 65,438+06644. The interest paid in 1 month is:11333.33; The first 1 month principal repayment is: 3933.46; Since then, the monthly interest repayment amount has decreased and the principal has increased. (without considering the adjustment of interest rate in the middle)

Formula of equal principal and interest method (n is the number of months): monthly repayment amount = loan principal * monthly interest rate *[( 1+ monthly interest rate) n]/[( 1+ monthly interest rate) n- 1]