The annual interest rate of the loan is 33.3782%, which belongs to usury under the current regulations. Interest rate ceiling: According to the original regulations, the interest rate of the part where the interest rate agreed by both private lenders and borrowers exceeds the annual interest rate of more than 36% is not protected by law; New regulation in September, 2020: The lending rate shall not exceed 4 times the quoted one-year loan market interest rate LPR (3.85% and 4 times 1 year LPR announced in April, 2020). The specific calculation is as follows:

Let the actual annual interest rate r, the monthly interest rate R/ 12 and the monthly repayment = (26800+10291)/24 =1545.46, then:

45000*r/ 12*( 1+r/ 12)^24/[( 1+r/ 12)^24- 1]= 1545.46

R = ratio (24,-1545.46,26800) *12 = 33.3782%.

Explanation: 24 is the 24th power.