This depends on the installment platform or bank, and the installment interest of different banks is different. According to the bank's average installment interest of 0.8%, the annual interest of 20,000 yuan is equal to 200,000.012 = 2112 yuan. This installment interest is similar to the credit card installment fee, depending on the platform you choose. The actual interest shall be subject to the signed loan contract.

What is the annual interest rate of 6% for 22,000 installments?

Hello. The principal of 20,000 yuan is annualized by 6% in 24 installments, and the total interest for two years is 2,400 yuan. Each issue should be around 933.3.

3. What's the annual interest for borrowing 20,000 yuan by credit card?

The installment fee is currently about 0.7%/ month a year, and there are some differences among different banks.

20,000 yuan a year is 20,000 yuan×12× 0.7% =1680.

4. If I borrow 20,000 yuan, how much interest will I have to pay after two years?

Monthly interest 130