Example:
The total investment of a project is 10 million yuan, of which 8 million yuan comes from the lending funds, the loan interest rate is 5.85%, and the loan period is 5 years. The annual repayment and interest payment of the loan funds are calculated. Deposit interest is 5%.
***** Same amount of interest method ****
1. Calculate an annuity using the PMT Formula
Pv = 1, 800
I = 5.85%.
N = 5
PMT = 1, 189.14
|
|
1 |
2 |
3 |
4 |
5 |
|
Loan accumulation at the beginning of the year |
800 |
¥657.66 |
¥506.99 |
¥347.50 |
¥178.69 |
|
Interest payable this year |
46.8 |
38.47295 |
29.65876 |
20.32894 |
10.45333 |
|
The principal shall be paid back this year |
¥142.34 |
¥150.67 |
¥159.48 |
¥168.81 |
¥178.69 |
|
Amount of principal and interest to be paid back this year |
¥189.14 |
¥189.14 |
¥189.14 |
¥189.14 |
¥189.14 |
|
PV |
800 |
|
|
|
|
|
I |
5.85% |
|
|
|
|
|
N |
5 |
|
|
|
|
Equal cost and interest |
PMT |
¥189.14 |
|
|
|
|
First-year interest = 800 * 5.85% = 46.8
Principal for the first year = PMT-interest for the first year = 189.14-46.8 = 142.34
Therefore, the principal for the second year = 800-the principal for the first year = 800-142.34 = 657.66
Then you can find the second year's Interest = 657.66 * 5.85% = 38.473
......................................
***** Equal principal ****
|
1 |
2 |
3 |
4 |
5 |
Loan accumulation at the beginning of the year |
800 |
¥640.00 |
¥480.00 |
¥320.00 |
¥160.00 |
Interest payable this year |
46.8 |
37.44 |
28.08 |
18.72 |
9.36 |
The principal shall be paid back this year |
¥160.00 |
¥160.00 |
¥160.00 |
¥160.00 |
¥160.00 |
Amount of principal and interest to be paid back this year |
¥206.80 |
¥197.44 |
¥188.08 |
¥178.72 |
¥169.36 |
PV |
800 |
|
|
|
|
I |
5.85% |
|
|
|
|
N |
5 |
|
|
|
|
The same metallographic morphology of each phase = 800/5 = 160
Therefore, the interest for each period can be calculated = The amount of the initial loan for each period * Interest Rate
Repayment principal and interest amount of each period = interest + principal of each period
Total amount of the same amount of principal and interest paid = 945.71
Total amount of the same amount of principal = 940.40
Therefore, it is more advantageous to use the same amount of principal for repayment.