- How to calculate the interest on home loans? Mortgage Monthly Calculation Formula How is the monthly amount of money for buying a home loan calculated? Although it is easy to calculate the monthly mortgage payment through the mortgage calculator, is the homeowner willing to figure out how to calculate the interest on home loans and what is the interest calculation formula for bank loans? Explain to everyone today...
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Mortgage Monthly Calculation Formula
1,Equal principal repaymentLaw (the maximum amount of repayments in the first month, then decreasing month by month). Equivalent principal mortgage loan monthly calculation formula:
The amount of monthly payments for the first month = total loan amount / number of loan months + total loan amount * monthly interest rate. Monthly Monthly Amount = (Loan Principal / Repayment Month) + (Loan Principal - Accumulated Return of Principal) × Monthly Interest Rate. The principal should be returned every month = loan principal / repayment month. Monthly interest should be reimbursed = remaining principal x monthly interest rate = (loan principal - the cumulative amount of principal returned) x monthly interest rate. Monthly monthly depreciation = principal per month x monthly interest rate = loan principal ÷ repayment month x monthly interest rate. Total interest = [(total loan amount ÷ repayment months + total loan amount × monthly interest rate) + total loan amount ÷ number of repayment months × (1 + monthly interest rate) 〕 ÷ 2 × repayment months - total loan amount.
Monthly Monthly Amount = [Loan Principal × Monthly Interest Rate × (1 + Monthly Interest Rate) ^ Repayment Month] ÷ ((1 + Monthly Interest Rate) ^ Repayment Month - 1]. Monthly Interest Repayments = Loan principal x monthly interest rate x ((1 + monthly interest rate) ^ number of repayment months - (1 + monthly interest rate) ^ (repayment month number - 1) ] 〔(1 + monthly interest rate) ^ Number of repayment months -1]. Monthly repayment of principal = loan principal × monthly interest rate × (1 + monthly interest rate) ^ (repayment month number - 1) ÷ 〔 (1 + monthly interest rate) ^ repayment month - 1〕. Total interest = repayment months × monthly monthly payments - loan principal.
For example, commercial mortgage loans: The loan principal is 300,000 yuan and the repayment period is 10 years (ie, 120 months). Based on the annual interest rate of 6.55%, the monthly interest rate is approximately 0.0546%. Substituting the equivalent principal repayment calculation formula, the monthly repayment amount can be calculated as 3414.08 yuan.
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