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Who can help me calculate, the loan is 20 thousand, and the monthly interest rate is 8%. How much do I have to pay back every month?
The loan is 20,000 yuan, and the monthly interest rate is 8.8% (8.8% is 0.88%). Because you didn't say the fixed number of years, I will give it to you according to the cycle of 1 year. Monthly payments are as follows:

20000*0.88%= 176 yuan, and the monthly interest is 176 yuan.

20000/ 12= 1666.67 yuan, and the monthly principal is 1666.67 yuan.

Monthly payment is equal to monthly principal 1666.67+ monthly interest 176= monthly payment 1842.67.

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