If the monthly interest rate is 0.25% and the loan is 654.38 million yuan, what is the interest for five years? I believe many people are paying attention to this issue, and I will focus on it below.
There are two repayment methods for decoration loans, one is equal principal and interest repayment, and the other is equal principal and interest repayment. The interest calculation methods of the two repayment methods are different.
1. Waiting for interest repayment. Decoration loans are mostly equal principal and interest repayments, and the principal and interest paid each month are fixed. In other words, the interest will not decrease with the decrease of the loan principal.
The loan is 654.38 million yuan, with a monthly interest rate of 0.25%, which will be repaid in five years (60 installments) with equal principal and interest each month.
Monthly interest 65438+ 10,000× 0.25% = 250 yuan; The annual interest is 250× 65438+February =3000 yuan; The interest for five years is 3000 yuan × 5 =1.5000 yuan.
In June, the monthly repayment principal was 654.38+ ten thousand yuan ≈ 654.38+0666.67 yuan; The principal to be repaid in one year is1666.67× 65438+February ≈ 20,000 yuan; The principal to be repaid in five years is 20000.04×5≈65438+ ten thousand yuan.
Monthly repayment of principal+interest =1666.67+250 =1916.67 yuan; Annual repayment of principal+interest =1916.67×12 = 23,000.04 yuan; Repayment of principal and interest in 5 years = 23,000.04× 5 ≈11.5 million yuan.
Therefore, if the loan is 6,543,800 yuan and the monthly interest rate is 0.25, the interest is 6,543,800 yuan, the principal is 6,543,800 yuan, and the total repayment amount is 6,543,800 yuan+0.10.5 million yuan.