The base interest rate for mortgages is 6.6%. Generally, there is a 15% discount, which is 5.61%. Because loan interest rates are frequently adjusted, I will give you an example of calculating loan interest: the total loan amount is 480,000, the duration is 10 years, and the interest rate is 5.94%.

Wondering what the total interest is?

And how is the formula calculated?

Supplement to the question: It is the total interest calculation method for equal principal and interest repayments.

Ask a professional to help!

Don't ask me to look for it here, I just hope there is an easy-to-understand formula.

Answer: Two repayment methods with equal principal amount. Repayment in each period = principal in each period + interest in each period. Principal in each period = total loan amount / specified number of years. Interest in each period = (total loan amount - repaid in the previous year) * year

Interest rate monthly repayment = total loan amount/specified number of years + (total loan amount - repaid last year) * monthly interest rate first year repayment = 480000/10 + (480000-0) * 5.94% = 76512 yuan repayment in the second year

=480000/1(480000-76512)*5.94%=71967.1872 yuan Repayment in the third year =480000/1(480000-71967.1872)*5.94%=72237.1490803 yuan using equal principal and interest method.