If the interest is 3% 3, the annual interest rate is 0.33%* 12=3.96%, and the total repayment amount = loan amount * annual interest rate * years+loan amount, that is, the total repayment amount =300000*3.96%*3+300000=335640.
Interest is the use fee of money in a certain period of time, which refers to the reward that the holder of money gets from the borrower for lending money or monetary capital.