Monthly repayment amount = loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months /[( 1+ monthly interest rate )× repayment months-1]
Total repayment amount = repayment amount per installment * repayment months.
Examples are as follows:
Loan 500 thousand,
For 20 years, the interest rate is calculated at 5.9%:
Monthly repayment amount = 500,000× 5.9%12× (1+5.9%/12) 240/[(1+5.9%12) 240.
=3553.37 yuan
Total repayment amount =3553.37*240=
852808.79
Yuan dynasty (1206- 1368)
In addition, there is average capital, and its calculation formula is relatively simple. The formulas and examples are as follows:
Monthly repayment amount = monthly repayment principal+monthly repayment interest;
Monthly repayment principal = total loan amount/loan months
Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit.
definition
1. Money other than the principal obtained by depositing and lending funds to Daxiang (different from "principal").
2. The abstract interest point refers to the value added when monetary funds are injected into the real economy and returned. Generally speaking, interest refers to the remuneration paid by the borrower (debtor) to the lender (creditor) for using the borrowed currency or capital. Also known as the symmetry of sub-fund and parent fund (principal). The calculation formula of interest is: interest = principal × interest rate × deposit period (i.e. time).
Interest is the reward that the fund owner gets for lending the fund, which comes from a part of the profits that the producer makes by using the fund to play its operational functions. Refers to the value-added amount brought by monetary funds injected into the real economy and returned. The calculation formula is: interest = principal × interest rate × deposit period × 100%.
3. Classification of bank interest
According to the different nature of banking business, it can be divided into bank interest receivable and bank interest payable.
Interest receivable refers to the remuneration that the bank obtains from the borrower by lending to the borrower; It is the price that the borrower must pay for using the funds; It is also part of the bank's profits.
Interest payable refers to the remuneration paid to depositors by banks to absorb their deposits; It is the price that banks must pay to absorb deposits, and it is also part of the cost of banks.
Theoretical basis of folding editing this paragraph
Marx's Political Economy Viewpoint
According to Marxism, interest is actually a part of profit and a transformation form of surplus value. Money itself cannot create money, nor will it increase in value. Only when functional capital purchases means of production and labor with money can it create surplus value through the labor of hiring workers in the production process.
Monetary capitalists share surplus value with functional capitalists by virtue of capital ownership. Therefore, the separation of capital ownership and capital use right is the inherent premise of interest generation. Due to the characteristics of reproduction process, the coexistence of capital surplus and capital shortage is the external condition for interest generation. When money is possessed by capitalists and used as a means to exploit the surplus value of hired workers, it becomes capital. Money performs the function of capital and gains additional use value, that is, the ability to produce average profits.
All capitalists are driven by the interests of pursuing surplus value, and profits are converted into average profits. The average profit is divided into profit-making interest and income of business owners, which are owned by different capitalists respectively. Therefore, interest infiltration, like profit in essence, is the transformation form of surplus value, reflecting the relationship between borrowing capitalists and functional capitalists and exploiting workers. interest
Western economic viewpoint
The theory of actual interest is the actual restraint of remuneration and actual qualifications. Interest theory has always been in a dominant position in the field of interest research.
Monetary interest theory holds that interest is the cost of borrowing money and selling securities, as well as the income from lending and buying securities. As a monetary phenomenon, Chinese scholars believe that in a socialist society with public ownership as the main body, interest comes from the value-added part of national income or social wealth. In real life, interest is regarded as a general form of income, which leads to the capitalization of income.