At present, the repayment method of provident fund loans is generally equal principal and interest repayment. At present, the benchmark interest rate of provident fund for more than five years is 3.25%, with a loan of 800,000 yuan and a term of 18. The monthly repayment of principal and interest is 4,896.94 yuan, and the total repayment is 1 0,057,739.04 yuan, of which the total interest is 257,739.04 yuan.

Calculation formula of equal principal and interest repayment

Suppose the loan amount is A, the monthly interest rate is I, the annual interest rate is I, the number of repayment months is N, the monthly repayment amount is B, and the total repayment interest is Y.

1:I= 12×i

2:Y=n×b-a

3. The interest for repayment in the first month is: a× i.

The repayment interest of the second month is [a-(b-a× i) ]× i = (a× i-b )× (1+i)1+b.

The repayment interest of the third month is {a-(b-a× i)-[b-(a× i-b )× (1+i)1-b] }× i = (a× i-b )× (1+).

The repayment interest of the fourth month = (a× I-b )× (1+I) 3+B.

.....

The repayment interest of the nth month = (a× I-b )× (1+I) (n-1)+B.

The above sum is: y = (a× I-b )× [(1+I) n-1] ÷ I+n× b.

4. The above two y values are equal.

Average monthly repayment: b = a× I× (1+I) n ÷ [(1+I) n-1]

Pay interest: y = n× a× I× (1+I) n ÷ [(1+I) n-1]-a.

Total repayment amount: n× a× I× (1+I) n ÷ [(1+I) n-1]

Note: a b stands for the power of a.