Monthly interest rate = interest/(principal * months) =700/( 1400*2)=25%.

Annual interest rate = monthly interest rate * 12=25%* 12=300%.

(2) Equal amount

pay principal with interest

The annual interest rate of the loan is 382.475%

Loan amount 1400 yuan.

The loan term is February.

The total repayment amount is 2 100 yuan.

Total interest 700 yuan

Monthly repayment 1050 yuan.