Calculated by private lending;

Formula annual interest rate = (monthly repayment amount * repayment months-loan amount)/loan period/loan amount * 100%? )

Annual interest rate = (4000 * 36)-10000)/3/100000 *100%

Annual interest rate = 14.667%

result

According to the method of private lending, the annual interest rate is 14.667%? . The annual interest rate is less than 24%, which is within the legal scope. ?