The house price is 560,000 yuan, the down payment is 20% 165438+2000 yuan, and a loan of 448,000 yuan is needed, with a loan term of 25.5 years (306 months) and an annual interest rate of 5.23%. Repayment by means of equal principal and interest. Calculation formula of monthly repayment amount:
Monthly repayment amount = principal * monthly interest rate *( 1+ monthly interest rate) n/[( 1+ monthly interest rate) n- 1]
Where: monthly interest rate = annual interest rate/12, n represents the number of loan months, and n represents the power of n, for example, 306 represents the power of 306 (loan for 25.5 years and 306 months). Note: When calculating (1+ monthly interest rate) n- 1, you must first calculate what is in brackets, and then multiply and subtract 1.
Substitute the above data into the formula:
448000*(5.23%/ 12)*( 1+5.23%/ 12)^306/[( 1+5.23%/ 12)^306- 1]
=2653.902432
=2653.90 yuan.
The monthly repayment amount is 2653.90 yuan.