Installment interest rate = rate (17,

7000,

-85000)*4= 16. 10%

Monthly loan interest rate =2%* 12=24%

II. Comparison of Total Repayment Interest

Total interest by installment =7000* 17-85000=34000 yuan.

Total monthly interest = 85,000 * 2% *17 * 3 = 86,700 yuan.

If there is no problem with your fund application, it should be cost-effective by stages by comparing the above two ways.