The loan is 80,000 yuan, which will be repaid in three years with a monthly interest of 4.5%. How much is the total interest and monthly repayment? annual interest
4.5% is a popular folk saying, which means that the monthly interest rate is 0.45%. That is to say, as long as the interest of a few cents is in months, if the loan principal is 80,000 yuan, the monthly interest is 360 yuan, and the loan term is 3 years, then the principal of 80,000 yuan will be shared for 3 years, which means that the monthly principal will be returned to 2,222.23 yuan and the monthly repayment amount with interest will be 2,582.23 yuan.