The provident fund loan is 70,000, which will be paid off in three years. How much is the monthly repayment?
The loan principal is 70,000 yuan, with a term of 3 years. According to the benchmark annual interest rate of the People's Bank of China for loans of less than 5 years (unchanged), the repayment method of equal principal and interest is adopted, with a monthly payment of 1250.05, with a total repayment amount of 75,002.8 and a total interest amount of 5,002.8.