Equal monthly repayment method is equal principal and interest repayment method, that is, the borrower repays the loan principal and interest with the same amount every month, and the monthly loan interest is calculated according to the remaining loan principal at the beginning of the month and settled every month.
The total loan amount is 420,000.00 yuan.
Number of repayment months:1August
The monthly repayment is RMB 3, 159.57.
Total interest paid 148722.48 yuan.
The total principal and interest is 568,722.48 yuan.
Reduce the monthly repayment
The average capital repayment method means that the principal remains unchanged, the interest decreases month by month, and the number of monthly repayments decreases; Because the monthly repayment amount is fixed and the interest is getting less and less, the lender is under great pressure to repay at first, but as time goes on, the monthly repayment amount is getting less and less.
The total loan amount is 420,000.00 yuan.
Number of repayment months:1August
The repayment in the first month is 3820.83 yuan.
Decreasing monthly: 8.26 yuan
Total interest paid134,618.75 yuan.
The total principal and interest is 554,665,438+08.75 yuan.