Of course, there is an annual interest rate. If the time is not enough for one year, there will be a monthly interest rate and a daily interest rate. This will calculate the monthly and daily interest rate, and the general repayment is designed to the monthly interest rate. Is the annual interest rate / 12

to calculate the bank loan interest rate for more than 5 years and the corresponding two methods

The following cases have a loan amount of 10,000, the loan period is 5 years, the loan annual interest rate is 6.55%:

Method 1: Equal principal and interest repayment, that is, the total interest should be repaid within the accounting time, plus the total principal, and then the average amount of repayment per month. That is, the total monthly repayment amount is the same

The monthly repayment amount is: [principal x monthly interest rate x (1 + monthly interest rate) loan month] / [(1 + monthly interest rate) repayment month - 1]

is also 10000*(6.55%/12)*(1+6.55%/12)*60/(1+6.55%/12)*59

Method 2: Equal principal repayment,

is to share the principal To each month (the monthly principal should be the same), and then add the monthly interest of 100,862,100,861. The initial repayment is a lot, and the monthly declining will be a certain percentage, but the prepayment pressure is too large. Easy

According to the same amount of principal, the principal payable per month is 10000/5/12=166

Then how should the interest payable per month be calculated?

The interest for the first month is 10000 (the total amount owed) *(6.55%/12) (Remarks: Monthly interest rate) = 54.58

Interest for the second month is (10000-166)*(6.55%/12)=53.67

Then the monthly repayment amount is the theater per month. The principal (ie 166) + the monthly interest payable

The remaining money each month to reduce, so every month should also reduce the monthly payment is