Matching principal and interest method: loan principal: 60,000 yuan, assuming annual interest rate: 20.000%, loan life: 3 years; Monthly repayment of principal and interest: 2229.82 yuan, total repayment of principal and interest: 80273.52 yuan, and total interest payable: 20273.52 yuan. The interest paid in 1 month is:1000; The first 1 month principal repayment is:1229.82; Since then, the monthly interest repayment amount has decreased and the principal has increased. (without considering the adjustment of interest rate in the middle)

Formula of equal principal and interest method (n is the number of months): monthly repayment amount = loan principal * monthly interest rate *[( 1+ monthly interest rate) n]/[( 1+ monthly interest rate) n- 1]