Use an Agricultural Bank of China credit card to spend 40,000 yuan and repay it in 24 installments. The minimum monthly repayment is: 1906.67 yuan. The installment payment does not include interest and is directly calculated as the installment handling fee. The handling fee is 0.6%. The monthly handling fee will be charged together with the monthly bill.
The calculation method is as follows:
The amount payable in each installment = the total amount of card consumption * handling fee + the total amount of card consumption / number of installments.
That is: 40000*0.6%+40000/24=1906.67 yuan
The handling fee payable in each period = 40000*0.6%
Total 24 periods** *Repayable handling fee = 40000*0.6%*24
How to calculate interest
Equal principal and interest repayment method:
Monthly payment amount = [Loan Principal x monthly interest rate Interest rate >
Monthly principal repayment = loan principal × monthly interest rate × (1 + monthly interest rate) ^ (repayment month number - 1) ÷ [(1 + monthly interest rate) ^ number of repayment months - 1]< /p>
Total interest = number of repayment months × monthly monthly payment - loan principal equal principal repayment method:
Monthly monthly payment = (loan principal ÷ repayment Number of months) + (loan principal - cumulative amount of repaid principal) × monthly interest rate
Monthly principal repayment = loan principal ÷ number of repayment months
Every month Interest repayable = remaining principal × monthly interest rate = (loan principal - cumulative amount of repaid principal) × monthly interest rate
Monthly monthly payment reduction amount = monthly principal repayable × monthly interest rate = Loan principal ÷ number of repayment months × monthly interest rate
Total interest = (total loan amount ÷ number of repayment months + total loan amount × monthly interest rate) + total loan amount ÷ number of repayment months × ( 1+monthly interest rate)〕÷2×number of repayment months-total loan amount
Monthly interest rate = annual interest rate ÷12 15^4=15×15×15×15 (15 to the 4th power, that is 4 times 15 means)
"Interim Measures for Personal Loans"
Article 11
Personal loan applications should meet the following conditions:
(1) The borrower is a citizen of the People's Republic of China with full capacity for civil conduct or an overseas natural person who complies with relevant national regulations;
(2) The purpose of the loan is clear and legal;
(3) The loan application amount, term and currency are reasonable;
(4) The borrower has the willingness and ability to repay;
(5) The borrower The credit status is good and there is no major bad credit record;
(6) Other conditions required by the lender.