Because the loan interest rate is often adjusted, let me give you an example of calculating the loan interest first:

The total loan amount is 480,000 yuan, the time is 10 year and the interest rate is 5.94%. Want to know what the total interest is? How is the formula worked out?

Supplementary question: It is the total interest calculation method of interest repayment method of average capital. Ask professionals for help! Don't make me look there. I just want to have an easy-to-understand formula.

Answer:

Average capital act.

Repayment per installment = principal per installment+interest per installment.

Principal of each installment = total loan amount/specified period.

Interest per installment = (total repayment of loans in the previous year) * annual interest rate

Monthly repayment amount = total loan amount/specified period+(total loan amount-paid in the previous year) * monthly interest rate.

The repayment in the first year = 480,000/10+(480,000-0) * 5.94% = 76512 yuan.

The repayment in the second year = 480000/10+(480000-76512) * 5.94% = 71967.1872 yuan.

The repayment in the third year = 480000/10+(480000-71967.1872) * 5.94% = 72237.438+049803 yuan.

Keep the data in yourself until the tenth year. The second half is interest, and you can increase it yourself. About 20 thousand a year No formula is really bad, hehe.

I hope it helps you ~