When going to make a large purchase or get an expensive service, many are planning to take a loan. Before you decide on such a step, you need to imagine how the monthly payment is calculated and it will be its size to assess its financial capabilities. Someone simply multiplies the credit amount at the interest rate and divides the loan resulting on the number of months. This is wrong.
1
Most banks offer an annuity payment system. That is, the borrower pays monthly equal amounts. The distribution of this amount on the loan itself and interest on it changes - first the bulk share of the monthly payment takes up interest per loan, then a gradual change in the relation - the amount rejected by the loan increases, the percentage decreases.
2
To calculate the monthly payment there are formulas with which an approximate calculation can be made: SA \u003d S *% ME / [1- [1 +% ME] ^ - P], where SA is a monthly payment, S - loan amount,% months - interest rate per month, i.e. 1/12 Annual Betting, R - Loan term in months.
3
Folding payments for all periods, we get the total amount of payment of the bank. Extinguished from this amount of the loan size, we learn the amount of overpayment.
4
To be clearer, consider an example. Take a loan at 100,000 rubles for 1 year under 15% per annum. Calculate the monthly payment: SA \u003d 100000 * 0,0125 / [1- [1 + 0.0125] ^ - 12] \u003d 9025.27 rubles, where% months \u003d 0.15 / 12 \u003d 0.0125.
5
The amount that the borrower will pay for the entire period will be 9025.27 * 12 \u003d 108303.24 rubles. The amount of overpayment will be 108303.24 - 100000 \u003d 8303.24 rubles.
6
Another loan repayment option is differentiated payments. The essence of this method in the monthly repayment of the loan in equal shares and plus the payment of interest for the remainder of the outstanding part of the loan. In our example, the main part of the debt in the amount of 100,000 / 12 \u003d 8333.33 rubles will be reached monthly and in addition to this amount you need to pay interest. The formula for determining the percentage includes the number of days in the estimated month. For example, a loan is taken in May, then for the first month the amount of percent will be [100,000 * 15% x31] / [365 * 100] \u003d 1273.97 rubles. For June, the percentage of the percentage of [[100000-8333,33] * 15% * 30] / [365 * 100] \u003d 1130.14 rubles. The total amount of payment for May will be 8333.33 + 1273.97 \u003d 9607.3 rubles; For June 8333.33 + 1130,14 \u003d 9463.47 rubles. Etc. The final payment of the Bank will be 108160.9 rubles, and overpayment for credit 8160.9 rubles.
To calculate the monthly annuity payment, you can use the calculator on the bank's website. Take into account that often the Bank introduces additional commissions, for example, for consideration of the application, to open an account, for cashing credit and others. All these costs can make a loan quite expensive even at a low interest rate.
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