The difference between average capital and equal principal and interest
1, different interest expenses
In the case of the same loan amount, the loan interest with equal principal and interest is higher than that with equal principal and interest. When equal principal and interest are repaid, the first repayment is mainly interest; When the average capital repays the mortgage, it is mainly to repay the principal first.
2. The monthly repayment amount is different.
In the case of the same loan amount, the monthly repayment amount of equal principal and interest is the same, while the repayment amount in average capital is gradually decreasing.
Calculate the matching principal and interest according to the total repayment amount and interest rate, and then distribute the total repayment amount evenly to each month.
In the average capital, because the principal amount of each period is the same, at the initial stage of repayment, it is natural to pay more because of the high interest.
For example:
Tribal Tiger plans to buy the second suite in her life in June. The loan she needs is 6.5438+0.3 million, and the loan period is 20 years. As this is the second suite of the Tribal Tiger family, the loan interest rate is not preferential, and it can only be calculated according to the benchmark interest rate of 4.9%.
According to the above conditions, let's calculate the difference between the average capital and the equal principal and interest.
Total loan interest on average capital = 639,654,438+07. The repayment amount in the first month = 10725, and the repayment amount in the last month =5438.78.
Total loan interest with equal principal and interest =74 1865.43. Monthly repayment amount =8507.77.
Yes, under different repayment methods, the total interest of 1.3 million yuan is10221.26 (741865.43-639658+07).