The mortgage is 620 thousand. What is the monthly repayment at the latest interest rate for 20 years?

At present, the mortgage for more than five years is 4.9% (banks may have differences).

Repayment method:

Equal principal and interest method

Total loan amount:

0.62 million yuan

Loan term:

20 years

Loan interest rate:

4.90%

Monthly repayment:

-4,057.55

Yuan dynasty (1206- 1368)

Total principal and interest:

-973,8 12.00

Yuan dynasty (1206- 1368)

Total interest:

-353,8 12.00

Yuan dynasty (1206- 1368)

Calculation formula for repayment of each installment:

= principal * (interest rate/12) * ((kloc-0/+interest rate/12) (term *12)/(1+interest rate/12) ()

=620000*(4.9%/ 12)*(( 1+4.9%/ 12)^(20* 12)/(( 1+4.9%/ 12)^(20* 12)- 1))

=4057.55 yuan

You can also use the excel function PMT to calculate:

=PMT (interest rate, NPER, PV, FV, type)

=PMT(4.9%/ 12，20* 12，620000，0，0)

=4057.55 yuan

PMT-Repayment amount in each installment

Interest rate-interest rate per period

NPER-number of cycles

PV-Initial value (total loan amount)

FV-final value (0)

Type-type. The first repayment 1, and the final repayment is 0.

Total principal and interest = sum of repayment amount in each installment.

This example: =4057.55*20* 12

=9738 12.00 yuan

Total interest = total principal and interest-principal

This example: =9738 12-620000

=3538 12.00 yuan