Total interest = principal * interest rate * time
The principal is 256,000 yuan, that is, 256,000 yuan, and the annualized interest rate is 17.56%, with 36 installments of 3 years.
256000* 17.56%*3= 134860.8
The universal gold loan of Shanghai Pudong Development Bank is 256,000 yuan, with total interest of 36 installments134,860.8.
Installment interest = total interest/number of installments
Namely: 134860. ÷ 36 ≈ 3468+03
The interest per installment is 3746. 13 yuan.
Extended data
Influencing factors of loan interest rate:
The decisive factors of bank loan interest are:
1, bank cost.
Any economic activity needs cost-benefit comparison. There are two types of bank costs: borrowing costs-prepaid interest on borrowed funds; Additional cost-the cost of normal business.
2. Average profit rate.
Interest is the subdivision of profit, which must be less than the profit rate, and the average profit rate is the highest limit of interest.
3. Supply and demand of loan funds.
If the supply exceeds the demand, the loan interest rate will inevitably fall, and vice versa. In addition, the loan interest rate must also consider price changes, securities returns, political factors and so on.
Shanghai Pudong Development Bank Credit Card-General Interest Standard