What is the interest-bearing formula for personal travel loans?

The repayment method of personal travel loan is one of the ways of matching principal and interest.

For loans with a loan term of less than half a year (inclusive), the repayment method of principal and interest at maturity shall be adopted;

For loans with a loan term exceeding 65,438+0 years (inclusive), the principal shall be repaid in one lump sum at the expiration of the monthly interest, or the principal and interest shall be repaid in equal amount every month.

Calculation formula of equal principal and interest:

Monthly repayment amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months ]≤[( 1+ monthly interest rate )× repayment months]