The loan is 1, yuan, with a monthly interest rate of .78% and an annual interest rate of 9.36%. What is the monthly payment and the total interest?
The monthly payment is 3,557.78 yuan and the total interest is 28,8 yuan.
according to the meaning of the question, the loan principal is 1, yuan,
the loan term is 3 years, that is, 312=36 months
the monthly interest rate =.78%, the annual interest rate =.78%12=9.36%
the monthly repayment principal = 1,/36 = The formula can be obtained:
monthly interest =1.78%=78 (yuan)
So the total monthly repayment amount =2777.7878=3557.78 (yuan)
Total interest = principal interest rate time
Substituting the data, the formula can be obtained:
Total interest =
2. The loan purpose should be legal and compliant, and the transaction background should be true;
3. Choose the repayment method that suits you according to your repayment ability and future income expectation;
4. Apply for a loan amount according to your ability, and usually the monthly repayment amount should not exceed 5% of the total family income;
5. Read the terms of the contract carefully and understand your rights and obligations;
6. Repay on time to avoid bad credit records;
7. Don't lose the loan contract and iou. For mortgage loans, don't forget to cancel the mortgage registration after paying off the loan;
8. prepayment can only be processed by communicating with the bank one month in advance.
9. When foreigners apply for commercial loans, banks generally require borrowers to have a stable income in the local area, but also to open a household registration certificate at the place where they registered (some banks also require an office certificate); And the housing guarantee company's requirements for foreigners should be handled with a temporary residence permit in addition to local income.
how to repay the unsecured credit loans launched by major banks?
for unsecured credit loans launched by banks, the repayment method is basically equal principal and interest repayment. If you apply for a credit loan of 1, yuan from a bank, the monthly interest rate is 7% (specifically according to the bank interest rate), the loan period is 3 years, and the monthly payment is calculated as follows: 7% =7 yuan (monthly interest repayment) , yuan /36 months =2777.78 yuan (monthly principal repayment) 777.77 yuan = 3477.78 yuan (monthly payment) < P >. After paying off in three years, the benchmark interest rate for three years is 6.65%, which is a little more than 9%. It should be 4% higher for you, and the interest rate is 9.31%. The monthly interest is 776 yuan.
Supplementary information:
Calculation method of bank interest:
The deposit and loan interest rates are uniformly stipulated by the state, and the People's Bank of China is listed and announced. Interest rate, also known as interest rate, is the ratio of interest to principal in a certain date, which is generally divided into annual interest rate, monthly interest rate and daily interest rate. The annual interest rate is expressed as a percentage, the monthly interest rate is expressed as a thousandth, and the daily interest rate is expressed as a thousandth.
three interest rates can be converted, and the conversion formula is: annual interest rate ÷12= monthly interest rate; Monthly interest rate ÷3= daily interest rate; Annual interest rate ÷36= daily interest rate.
Basic formula for calculating interest. The basic formula for calculating interest of savings deposits is: interest = principal × deposit period × interest rate;
4. interest rate conversion, in which the conversion relationship among annual interest rate, monthly interest rate and daily interest rate is: annual interest rate = monthly interest rate ×12 (month) = daily interest rate ×36 (day); Monthly interest rate = annual interest rate ÷12 (month) = daily interest rate ×3 (days); Daily interest rate = annual interest rate ÷36 (days) = monthly interest rate ÷3 (days)
Let's stop here for the introduction of the monthly payment of 1, credit loans.