The annualized interest rate of this loan is 52.35%. According to the given information, the repayment amount of each installment is 1045. 14 yuan, and * * * is divided into 24 installments. When calculating the annualized interest rate, you can use the repayment formula of equal principal and interest, including the loan amount, the number of repayment periods and the repayment amount per period. Substituting these values into the formula and solving the equation can get the annualized interest rate.

The specific calculation steps are as follows:

1. Total repayment amount = repayment amount per installment × number of repayment installments.

Total repayment amount = 1045. 14 yuan× 24 = 25,083.36 yuan.

2. Interest amount = total repayment amount-loan amount

Interest amount = 25083.36 yuan-17700 yuan = 7383.36 yuan.

3. annualized interest rate = interest amount/loan amount ×(365/ repayment period )×100%

The annualized interest rate = 7383.36 yuan/17700 yuan× (365/24 )×100% ≈ 52.35%.

Regarding legal protection, it is impossible to answer clearly whether it is protected by law because the background information of relevant countries or regions is not provided in the question. Different countries and regions have different legal frameworks to regulate online lending business and ensure the rights and interests of both borrowers and lenders. Therefore, it is suggested to consult relevant local laws and regulations or conduct lending transactions through legal financial institutions.

Extended data:

Peer-to-peer lending refers to the lending business realized through the Internet platform, which is characterized by convenience, quickness and flexibility. In China, the online loan industry has undergone a series of regulatory measures to protect the rights and interests of investors and borrowers and promote the healthy development of the industry. For specific regulatory policies and legal provisions, please refer to the notices and documents issued by relevant local financial regulatory agencies.