For example, if you borrow 450,000 yuan, it will be paid off in 30 years and 360 months. If you repay 50,000 yuan in advance in the100th month, then you take the remaining principal after paying 50,000 yuan in the100th month as the total loan.
Calculate the installment repayment according to the remaining 260 months, and calculate the monthly repayment amount, which is the same as the algorithm of paying off 450,000 loans in 30 years.
Matching principal and interest repayment method:
Monthly loan amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months ]=[( 1+ monthly interest rate )× repayment months]
Monthly interest payable
= loan principal × monthly interest rate ×[( 1+ monthly interest rate )× repayment months -( 1+ monthly interest rate) ÷[( 1+ monthly interest rate )× repayment months -65438+]
Monthly repayment principal = loan principal × monthly interest rate ×( 1+ monthly interest rate) ÷ (repayment month serial number-1)÷[( 1+ monthly interest rate) repayment months-1]
Total interest = repayment months × monthly repayment amount-loan principal
Extended data:
Matching principal and interest repayment method, that is, the borrower repays the loan principal and interest in equal amount every month, in which the monthly loan interest is calculated according to the remaining loan principal at the beginning of the month and settled every month.
Because the monthly repayment amount is equal, in the initial monthly repayment of the loan, after excluding the monthly settlement interest, the loan principal is less; In the monthly repayment at the end of the loan, after deducting the interest settled on a monthly basis, the principal of the loan is more. ?
This repayment method actually takes up more bank loans and takes longer. At the same time, it is also convenient for borrowers to reasonably arrange their monthly life and financial management (such as renting a house, etc.). ) is undoubtedly the best choice for those who are proficient in investment and are good at "taking Qian Shengqian as their home".
References:
Baidu encyclopedia entry-equal principal and interest repayment method