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E: I borrowed 50,000 for 24 installments, and I have to pay 72,000 back. Interest is so high?
Formula:? Loan amount = monthly repayment amount * 1-( 1+ monthly interest rate)-repayment months/monthly interest rate

50000=3000* 1-( 1+ monthly interest rate) -24/ monthly interest rate.

Monthly interest rate =3. 149 13%

Annual interest rate =37.78952%

The annual interest rate exceeds 36%, which belongs to usury.

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