Second, the calculation of annual interest rate

Your loan is repaid with equal principal and interest. The principal and interest of the loan are repaid in the same amount every month, in which the interest decreases month by month and the principal increases month by month.

In other words, the repayment amount must be the same every month to facilitate the calculation of interest rates. However, if your first month is high, the interest rate of equal repayment in other months will be slightly different from the calculation of equal repayment in each month.

Monthly equal repayment conversion = (15050.4+6857.14 * 35)/36 = 7084.73 yuan.

The repayment period is 36 months and the loan principal is 240,000 yuan.

Under the above conditions, the annual loan interest rate can be calculated by the annuity rate () function, as shown below:

Annual loan interest rate = interest rate (36,7084.73,-240,000) *12 = 3.99%.

Therefore, the annual interest rate of this loan is about 3.99%.

The above answers, I hope to help you.